Tag: PayPal

What Stood Out in Earnings Calls from Roku, Expedia, PayPal and Others

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Week 3 of earnings season brought with it some telling disclosures about online travel and video ad spend, 5G chip sales and e-commerce and payments activity, among other things.

Here’s a recap of some notable things that were shared over the last few days by reporting tech companies.

Roku and The Trade Desk

The 32% annual YouTube ad sales growth that Alphabet  (GOOG) reported on Oct. 29 already signaled that online video ad spend was (like many other kinds of online ad spend) on the upswing as brand ad budgets loosen up.

But Roku (ROKU) and The Trade Desk’s (TTD) results and commentary arguably did more than just that: They suggested there’s a major inflection in online video ad spend as dollars are grabbed from traditional TV ad budgets amid major TV ratings declines and accelerated cord-cutting.

Roku, which rose 12.6% post-earnings on Friday, reported that its monetized video ad

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PayPal has posted record payment volume growth in Q3 2020

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  •  PayPal recorded its strongest total payment volume growth in company history and continued to rapidly attract users in Q3 2020.
  • And its new offerings should help it reach even greater heights.
  • Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry with the Payments & Commerce Briefing. You can learn more about subscribing here.

The company racked up $247 billion in total payments volume in Q3 2020, surging 36% year over year (YoY)—the strongest growth performance in company history, per its earnings release.

PayPal Total Payment Volume

PayPal recorded its strongest total payment volume growth in company history.

Insider Intelligence


Meanwhile, its net new account growth dropped from its astronomical 137% YoY growth in Q2 to 55% YoY growth in Q3, but that still allowed it to add a whopping 15.2 million accounts and significantly outperform its 7% YoY growth from Q3 2019. A coronavirus pandemic-driven uptick in ecommerce

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PayPal tops estimates amid surge in online shopping but outlook disappoints

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(Reuters) – PayPal Holdings Inc beat Wall Street estimates for quarterly revenue and profit on Monday, boosted by a surge in digital payments as COVID-19 lockdowns worldwide drove more businesses online, but it forecast current-quarter profit below expectations.

FILE PHOTO: The German headquarters of the electronic payments division PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch/File Photo

Shares of the digital payments processor fell more than 6% in extended trade.

For the fourth quarter, PayPal expects adjusted profit to grow in a range of 17% to 18%, below analysts’ estimated growth of about 24%, according to IBES data from Refinitiv.

PayPal Chief Executive Dan Schulman said in a call with analysts that the company was giving a more prudent estimate for the fourth quarter in part because of uncertainty due to the pandemic and its impact on the global

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Natural Language Analysis Of PayPal Enabling Bitcoin Buying/Selling

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On June 23 of this year I reported on the rumors regarding PalPay and Venmo to enable Bitcoin buying/selling:

MORE FROM FORBESBuzz Of PayPal & Venmo to Facilitate Crypto Buying/SellingBy Nicholas Gans

PayPal
PYPL
 officially announced its plans to allow its ~350 million users to buy and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. This news came amid a steady run-up in the crypto markets, with Bitcoin up ~80% YTD and 3% since its low in March:

This announcement has catalyzed discussion about the adoption and institutionalization of digital assets. There are opposing views from within the community in regards to both the significance of this news, and whether it is supportive or detrimental to the vision of a decentralized financial future.

Not your keys… While this move will allow more individuals the ability

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PayPal is shilling crypto on the internet

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The battle against fiat is truly in full swing.

Hot on the heels of Nigel Farage’s declaration of war against the financial system and inducement to freedom-lovers everywhere to stock up on gold and silver, we now have another call to arms. But this time, it’s different. This time, it’s crypto.

So who’s waging this war that decentralised bros around the world are so excited about? Some kind of super-decentralised entity that is super not into fiat, we imagine?

Um, sure:

That’s right, PayPal — one of the biggest payments companies in the world, with a market cap of $240bn — will soon be allowing its US users to buy, HODL, and sell bitcoin, bitcoin cash, ether (the crypto that powers Ethereum) and litecoin.

It’s not available for UK users yet but here are some screenshots from the PayPal app in the US, from Mike Dudas, founder of crypto site

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PayPal cuts ties with domain registrar Epik over digital currency

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PayPal has terminated the account of domain registrar and web hosting company Epik for violating its “risk controls,” prompting angry letters and blog posts from Epik alleging conservative bias was to blame, Mashable reported.



a close up of a logo

© Illustration by Alex Castro / The Verge


Seattle-based Epik is perhaps best known for its support of right-wing social media site Gab. The site was banned by its hosting company, domain registrar, and PayPal in 2018, after it was discovered that the alleged shooter at a Pittsburgh synagogue had written anti-Semitic tirades on Gab. In a 2018 blog post, Epik CEO Robert Monster criticized what he called the “digital censorship” by other sites.

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According to Mashable, the issue that got Epik kicked off PayPal has to do with Epik’s digital “alternative currency” Masterbucks. It can be used to buy Epik products or converted into US dollars, and Mashable reports Epik did not

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PayPal Reportedly in Talks to Buy Crypto Firms Including BitGo

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PayPal Holdings  (PYPL) – Get Report reportedly is looking to acquire cryptocurrency companies including bitcoin custodian BitGo.

Shares of the San Jose-based company were up nearly 1% to $205.60 in premarket trading.

PayPal has been holding talks with BitGo, a company that helps investors store bitcoin securely, and could reach a deal within weeks, Bloomberg reported, citing people familiar with the matter.

Talks could still fall apart and PayPal could opt to buy other targets.

BitGo offers digital wallets that require multiple signatures for transactions, as well as offline vaults for storing Bitcoin and rival currencies. 

Based in Palo Alto, Calif. the company was founded in 2013 by CEO Mike Belshe. Bitgo was one of the first companies in the space to focus on institutional investors, according to its website.

The company applied in August to New York regulators to become an independent, regulated qualified custodian under New

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PayPal, Venmo To Allow Bitcoin Buy And Sell On Their Platforms

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KEY POINTS

  • PayPal’s Bitcoin buy and sell service will be available to U.S. customers first
  • PayPal CEO said the shift to digital forms of currencies is inevitable
  • Bitcoin’s price achieved its 2020 high because of the PayPal news

Online payments giant PayPal Holdings Inc has announced its plan to soon allow its users to buy Bitcoin and other cryptocurrencies on its Paypal and Venmo platforms.

PayPal has obtained a conditional cryptocurrency license from the New York State Department of Financial Services, enabling it to to deal with cryptocurrencies such as Bitcoin and Ethereum. To offer the service, it partnered with Paxos Trust Company, a regulated cryptocurrency service provider, per Reuters.

PayPal Holdings said the service will be available to PayPal account holders in the U.S. in the coming weeks. After that, the company plans to expand the service to its Venmo mobile wallet and then to select countries in early

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Bitcoin Surges to Highest Since July 2019 After PayPal Embrace

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(Bloomberg) — Bitcoin surged past $13,000 for the first time since July 2019 after PayPal Holdings Inc. announced it will allow customers to use cryptocurrencies.

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The largest digital coin increased $950, or 8% during tradition trading hours in New York. It climbed another 2% to $13,119 in early Asian trading. Gains among so-called alt coins were even bigger on Wednesday, with Litecoin jumping more than 13% and Bitcoin Cash surging more than 9%.

PayPal customers can buy, sell and hold cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin from digital wallets, as well as use the virtual money to shop at the 26 million merchants on its network. Shares of PayPal jumped 5.5% to $213.07, the biggest increase since May.

Mike Novogratz, who runs Galaxy Investment Partners, on Twitter called it “the biggest news of the year in crypto,” adding that banks will embark on a race to

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PayPal to Open up Network to Cryptocurrencies | Technology News

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By Anna Irrera and Tom Wilson

LONDON (Reuters) – PayPal Holdings Inc said on Wednesday it will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network.

The new service makes PayPal one of the largest U.S. companies to provide consumers access to cryptocurrencies, which could help bitcoin and rival cryptocurrencies gain wider adoption as viable payment methods.

The San Jose, California-based company hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that central banks and companies may develop, President and Chief Executive Dan Schulman said in an interview.

“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said.

U.S. account holders will be able to buy, sell and hold cryptocurrencies in their

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