PayPal: Bitcoin Partnerships Will Help Us Study Consumer Behavior
Though long rumored, the news that PayPal had formally aligned its business with bitcoin dominated headlines this week due to the company's size, brand recognition and influence as an early pioneer and dominant player in online payments. For PayPal, the move comes at a time of increased competition in the web and mobile payments space, with tech giant Apple most recently entering the sector with Apple Pay. As such, there has been much speculation as to how bitcoin could play an increasing role in helping PayPal continue its market dominance while helping ease the still prevalent friction....
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PayPal has announced partnerships with three major payment processors in the bitcoin space - BitPay, Coinbase and GoCoin. Though the online e-commerce pioneer stopped short of integrating bitcoin into its digital wallet or payment processing services directly, the move marks PayPal's first formal offering to the bitcoin community. In a blog post penned by senior director of corporate strategy Scott Ellison, PayPal revealed that online merchants will now be able to accept bitcoin via all three companies through its PayPal Payments Hub, its product that enables customers to accept credit....
The payment processing giant Paypal has revealed it has partnered with the nonprofit organization the Anti-Defamation League (ADL). According to the announcement, Paypal is researching transactions settled on the payment network that allegedly fund hate groups and extremism. Paypal to Study Transactions With the Anti-Defamation League A report from Reuters notes that Paypal is studying transactions that involve “extremists” and that fund “hate movements.” The company will investigate and disrupt the financial flows that support specific hate groups and alleged....
After more than a decade of being part of eBay Inc. , PayPal will return to the stock market as an individual company. Shares of PayPal (PYPL.O) jumped up 11% in value as people anticipate the company’s return to NASDAQ. With that rise, and adjusting for market stabilization, PayPal is now valued at about $52 Billion. Online payments have changed considerably since 2002 when eBay acquired PayPal, and the popularity of PayPal has lead to a relationship that hinders the potential of PayPal. Processing over $235 billion in 2014, PayPal handles some massive transaction volume on a daily basis,....
PayPal revealed a series of groundbreaking partnerships earlier today when it announced a broad move to allow digital goods merchants to accept bitcoin payments via its PayPal Payments Hub service. The move has so far proved to be an expected though undeniable boon for bitcoin as it pushes toward mainstream acceptance. For example, the eBay-owned payments giant has 143 million registered users as of 2013, though only North American merchants are able to access the new payment methods. Larger effects on the ecosystem aside, the announcement is also a validation of the major bitcoin payment....
PayPal has been fined $10 million for engaging in deceptive practices. The crux of their deception was enrolling customers into a credit program without their consent, creating a situation where people were on the hook for credit they'd never asked for. As you know, any credit program can have an effect on your credit score. The action was carried out by the Consumer Financial Protection Bureau, an agency created in 2011 for the express purpose of monitoring financial practices at the consumer level. CFPB Director Rich Cordray said in a statement: The Bureau alleges that PayPal lured in....