Apple Pay revenue and transactions have “more than doubled year-over-year with over 3bn transactions in the September quarter, exceeding PayPal’s number of transactions and growing four times as fast,” Apple CEO Tim Cook has revealed... More
Shoppers at 30 US supermarkets operated by Netherlands-based retail giant Ahold Delhaize will be able to use their mobile phone to scan items as they shop and then self-checkout and pay by the end of this year... More
Visa, Mastercard, eBay, Stripe and Mercado Pago have followed PayPal in pulling out of Facebook’s Libra cryptocurrency project. The moves mean that PayU is now the only payments company to still be listed as a founding member of the Libra Association. More
PepsiCo has launched a loyalty programme that lets customers use their mobile phone to scan a code printed on drink bottles and snack bags to earn 10% cashback each time they buy both a drink and a snack — and receive their rewards as an automatic credit to their PayPal or Venmo account each time their balance reaches US$2... More
Apple financial results — Q3 2019 — Apple — “Apple Pay is now completing nearly 1bn transactions per month, more than twice the volume of a year ago… Based on June quarter performance, Apple Pay is now adding more new users than PayPal and monthly transaction volume is growing 4x as fast… We plan to begin the rollout of Apple Card in August.”
PayPal expands its international money transfer service Xoom to 32 markets across Europe — Xoom — “Today, PayPal launched Xoom — its international money transfer service — in 32 markets across Europe. People in these markets can now use Xoom to quickly send money, pay bills or top up phones to more than 130 markets internationally.”
The Libra Association — Libra — “Libra is a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology. People will be able to send, receive, spend, and secure their money, enabling a more inclusive global financial system… The Libra Association is made up of a group of diverse organizations from around the world… This initial group of organisations will work together to finalize the Libra Association’s charter and will become the association’s Founding Members upon its completion.”
Customers at sporting goods retailer Decathlon in the Netherlands who don’t want to line up at a physical checkout can now simply scan their goods, pay and leave — without setting off alarms — thanks to the introduction of a mobile self-checkout solution... More
Uber is to extend its partnership with PayPal to explore future commercial payment collaborations, including the development of a digital wallet for the on-demand transport firm... More
PayPal reports first quarter 2019 results — PayPal — “We now have 277 million customer accounts, including 22 million merchant accounts and over 40 million active Venmo accounts… Person-to-Person (P2P) volume grew 41% to $42bn, representing 26% of TPV. Venmo processed $21bn of TPV in the first quarter, growing 73%.”
PayPal CEO predicts digital payments industry will mature into a $100 trillion market — CNBC — “PayPal CEO Dan Schulman told CNBC that the digital payments industry may become a US$100tn market as the financial technology sector continues to grow rapidly… ‘We live in the space of digital commerce and digital commerce is exploding still around the world,’ he said. ‘There’s an explosion in digital commerce and we’re riding that wave.'”
Honda Dream Drive to deliver next-generation infotainment, commerce, services and rewards to drivers and passengers — Honda — “Since 2016, Honda has worked with Visa to build and enhance the in-vehicle payment experience to make payments more convenient and secure. Now, Honda is expanding its in-vehicle payment collaboration to include Mastercard and PayPal… Honda Developer Studio is user testing a new points-based rewards program to benefit drivers and passengers for using Honda products and services. Drivers and passengers can earn rewards points for participating in a variety of activities including purchasing services, watching and listening to media, and playing games.”
MediaMarktSaturn, Europe’s largest consumer electronics retailer, is piloting a mobile self-checkout service that lets customers add products to their shopping basket by tapping the NFC tag included in the digital price tags of more than 100,000 products on sale at its Hamburg city centre store... More
The Royal British Legion is distributing contactless cards at charity events in the UK which participants can scan with an NFC phone to be automatically directed to a website where they can make a donation using either Paypal or a bank card... More
Fast, simple and secure – Introducing the improved PayPal app — PayPal — “We’ve streamlined the app design to make it easier for customers to view their balance, get notifications, and move money from nearly wherever they are. We’ve moved the Send and Receive money buttons, so they’re always at customers fingertips on the home screen. Also, when sending and requesting money, we’ve made it simpler for customers to add their photo and personalize their contact list, so they can feel more confident they’re sending money to the right person.”
Earnings call: Apple financial results — Q3 2018 — Apple — “Apple Pay continues to expand with well over 1bn transactions last quarter, triple the amount from just a year ago, with growth accelerating from the March quarter. To put that tremendous growth into perspective, this past quarter, we completed more total transactions than great companies like Square and more mobile transactions than PayPal. Apple Pay is now live in 24 markets worldwide with over 4,900 bank partners and we look forward to adding Germany later this year.”
Uber and Venmo partner to deliver a new payment experience — PayPal — “Uber customers in the United States ordering rides and food will soon be able to pay with their Venmo balance, linked bank account, credit card or debit card so they can easily split the cost with friends and family in the Venmo app, for no additional fee. Users can also share their purchases in their Venmo feed with custom emojis that are exclusive to the partnership, with Uber as the first company to have a branded emoji in the app.”
PayPal to spend $3 billion a year on M&A — Reuters — “PayPal Holdings Inc is on the lookout for further acquisitions following its recent takeover of iZettle, the Swedish fintech startup, for $2.2bn… ‘We have a healthy balance sheet and we are ready to put it to work to buy more companies,’ president and CEO Dan Schulman told Germany’s Handelsblatt… Paypal is ready to invest up to $3bn a year on acquisitions that enable it to acquire specific capabilities, Schulman added.”
Introducing the new PayPal Checkout, built to drive conversions — PayPal — “Smart Payment Buttons are checkout buttons that dynamically present the most relevant payment methods for each customer in each geography… Over the next few weeks, we will enable iDEAL for customers in the Netherlands, Bancontact for customers in Belgium, MyBank for customers in Italy, Giropay for customers in Germany and EPS for customers in Austria… We expect to roll out many more local payment methods this year.”
Take your balance shopping with Venmo card — Venmo — “With the Venmo card, you can use your Venmo balance in more places… Low Venmo balance? We’ll use your linked funding source to reload your Venmo balance so you can make that card purchase… For those with Venmo notifications enabled, you’ll be notified on your phone with each swipe. And, we aim to alleviate the panic that comes with losing a card: just a few taps in the app, and boom — your card is disabled.”
