Tag: PayPal | Page 7

PayPal to Acquire TIO Networks, Citing Shared Interest in “Democratizing Money”

Leading payment facilitator PayPal announced on Tuesday that it plans to acquire TIO Networks. TIO is a Vancouver-based bill payment processor.

The companies cite their interest in providing services to the underserved as a key philosophical fit. And with this acquisition, PayPal gains an expanded offering for its consumer base.

News Roundup: PayPal and Discover Sign Agreement, Wix Adds Square

In this week’s roundup, PayPal racks up another credit card company agreement, Paytm expands the places it is accepted across India, and more small businesses can use Square for their POS.

News Roundup: Adyen Partners with VTEX; Xoom Expands into Asia

This week’s roundup of news from around the web includes a new partnership for Adyen, Asian expansion for PayPal’s Xoom, and growing cashless payments in India.

E-commerce technology provider VTEX announced a new partnership with Dutch payment facilitator Adyen, through which it has added payments processing and risk tools from Adyen to its platform. The partnership is geared to helping its customers grow their e-commerce businesses globally, the company said.

PayPal Integrates Voice Commands in Time for Holiday Group Shopping

PayPal recently predicted that more than 17 million P2P transactions will occur during the month of December, as consumers – particularly millennials – pool money for gifts and use P2P payment apps to collect payment from each other.

According to the company’s Holiday Money Habits Study, an online survey of 1,000 American consumers released this week, half of millennials planned to go in on gifts together this holiday season compared to two-fifths of consumers in general.

Europe News Roundup: Mobile Payments Have Taken Off

A look at European payments news this week reveals that financial technology is alive and well across Europe. Visa released statistics on explosive growth in mobile payments, and several new partnerships are expanding the ways Europeans – and visitors – can pay.

Facebook Dives Deeper Into Payments Under David Marcus, Competing As A PF, Again

The only thing separating Facebook from being a true payment facilitator is it registering as one. The social media giant today announced users of its Messenger app can now send payments from within the app to make purchases from sites who interface with the app using bots.

Facebook is working with Stripe, Braintree and PayPal, but also appears to be directly enabling acceptance of Visa, Mastercard, and American Express to make this happen, and Messenger users can store their card info in Messenger for use at checkout. This can be combined with the ability of brands being able to buy ads that take clickers into Messenger where their card info is saved. David Marcus, Facebook’s vice president of messaging and a former payments executive, has raised the Messenger user base from 700 million monthly active users to 1 billion in a year.

Mastercard And Visa Gain Strength, But Did PayPal?

The deal between Mastercard and PayPal announced Sep. 6 was different for a day than the Visa-PayPal partnership announced in July. Mastercard spokesperson Robyn Cottelli says being a payment choice in PayPal’s checkout is crucial, but not the only draw.

“Our thoughtful approach to the partnership with PayPal was not just focused on prominence as a payment option, but going beyond what we’ve seen Visa announce to drive further value for Mastercard and our partners,” Cotelli tells paymentfacilitator.com.

Global Mobile Brew Is Strong

Turkish coffee is almost as strong as Turkish use of mobile devices for banking and shopping and payments, but not as strong as the payments industry action in Europe. The Turks led a group of 15 countries in most of the categories of questions asked about mobile device usage for a recently released report on mobile banking, mobile shopping and mobile payments conducted for ING International by Ipsos.

The report is titled ING International Survey Mobile Banking 2016 but as ING economist Ian Bright explains, one thing has led to another, as it usually does in fintech, and banking only scratches the surface now, four years after its first mobile banking report.

Apple Pay Announcement Looks Like A Zero But Could Be A Hero

As exciting as Apple’s annual World Wide Developers Conference can be, the news from Monday’s keynote seemed on its face sort of ho-hum for payment facilitators. The new abilities within the upcoming release of the iOS 10 mobile and macOS desktop software updates are for now merely more options that PFs have to consider along with their merchant clients. The long term view of these Apple payment moves is scintillating however, given the higher incomes of iOS and MacOS users and the huge gap between what they spend on apps compared to Android users.

The features will allow merchants to add Apple Pay to their Safari browser shopping portal’s payment suite, and for merchants to develop apps for iMessage users to use for P2P transactions. In the short term, there are challenges. Shoppers with desktops must have not only a Mac, for communicating with the iPhone or Apple Watch that authenticates the payment, but the Safari browser that Apple owns.

FTC Investigating Venmo, Potentially Raising Compliance Interpretation Issues

Venmo has gotten into trouble—of the embarrassment sort—before with aggressive compliance efforts. That was specifically when it created a list of words that could delay transaction processing, such as the word Persian. And PayPal-owned Venmo was hardly alone, with Chase was caught doing similar word scans, as a man who had a dog named Dash discovered.

But the U.S. Federal Trade Commission has now launched a formal investigation into Venmo. With the FTC, phrasing is critical. An investigation is very different than an FTC study, such as the one the FTC launched to look into practices of the PCI Council. PayPal disclosed the investigation in an SEC filing last week. What exactly is being investigated?