Paypal is near all-time lows despite positive earnings and strong projections.  Like Meta has, can this big well known company thats down a lot make a massive comeback too?  Their latest move of launching a dollar backed stablecoin is quite interesting.  I think they might be the largest consumer company to do so so far?
#Crypto 

PayPal launches dollar-backed stablecoin, boosting shares

Crypto

Paypal is near all-time lows despite positive earnings and strong projections.  Like Meta has, can this big well known company thats down a lot make a massive comeback too?  Their latest move of launching a dollar backed stablecoin is quite interesting.  I think they might be the largest consumer company to do so so far? #Crypto  PayPal launches dollar-backed stablecoin, boosting shares Payments giant PayPal said on Monday it has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. https://www.reuters.com/technology/paypal-launches-stablecoin-crypto-push-2023-08-07/

Jerome Cody

PayPal’s revenue growth slowed to 6% in the third quarter, the payments firm reported on Tuesday, as growth in payment volume also slowed. Profit was unchanged at about $1 billion.

PayPal’s payment volume growth has slowed steadily, from 15% a year ago, thanks to competition from rival payments firms and a lapse in focus at PayPal that triggered executive change last year. PayPal CEO Alex Chriss, who joined the company a year ago, said on Tuesday that the company had “fallen behind on innovation” and had to improve its branded checkout platform for merchants, which enables businesses to sell goods to customers, and reinvigorate its mobile version of the products.

PayPal has been striking deals with other companies to increase usage of the checkout platform, which recently became a payments processor for Shopify, previously served solely by Stripe. PayPal’s checkout platform now controls 5% of U.S. checkout traffic, according to PayPal.

Meanwhile, Chriss said the company was “leaning into marketing Venmo for the first time in years” in a bid to lure customers to its debit card and online payment options for consumers and merchants, amid competition for market share from startups such as Square, Zelle and Stripe and other companies that emerged in the recent fintech boom.

https://www.americanbanker.com/payments/news/paypal-earnings-beat-analyst-projections-boosted-by-ai-payments

PayPal’s revenue growth slowed to 6% in the third quarter, the payments firm reported on Tuesday, as growth in payment volume also slowed. Profit was unchanged at about $1 billion.  PayPal’s payment volume growth has slowed steadily, from 15% a year ago, thanks to competition from rival payments firms and a lapse in focus at PayPal that triggered executive change last year. PayPal CEO Alex Chriss, who joined the company a year ago, said on Tuesday that the company had “fallen behind on innovation” and had to improve its branded checkout platform for merchants, which enables businesses to sell goods to customers, and reinvigorate its mobile version of the products.  PayPal has been striking deals with other companies to increase usage of the checkout platform, which recently became a payments processor for Shopify, previously served solely by Stripe. PayPal’s checkout platform now controls 5% of U.S. checkout traffic, according to PayPal.  Meanwhile, Chriss said the company was “leaning into marketing Venmo for the first time in years” in a bid to lure customers to its debit card and online payment options for consumers and merchants, amid competition for market share from startups such as Square, Zelle and Stripe and other companies that emerged in the recent fintech boom.  https://www.americanbanker.com/payments/news/paypal-earnings-beat-analyst-projections-boosted-by-ai-payments

Alex Chriss says the impact of new payment innovation and strategies at units like Venmo and Braintree will take time.

PayPal CEO preaches patience for recovery

Cyril

PayPal plans to build an ad sales business around data generated from users and tracking purchases.

https://www.wsj.com/articles/paypal-is-planning-an-ad-business-using-data-on-its-millions-of-shoppers-cc5e0625?st=4kphs5luc4ifvhq&reflink=desktopwebshare_permalink&utm_source=substack&utm_medium=email

PayPal plans to build an ad sales business around data generated from users and tracking purchases.  https://www.wsj.com/articles/paypal-is-planning-an-ad-business-using-data-on-its-millions-of-shoppers-cc5e0625?st=4kphs5luc4ifvhq&reflink=desktopwebshare_permalink&utm_source=substack&utm_medium=email

Payments company hires Uber’s former head of advertising to run a new ad division.

Exclusive | PayPal Is Planning an Ad Business Using Data on Its Millions of Shoppers

isn't this an extremely crowded market already dominated by stablecoins like tether and USDC?

Bobby

Definitely he first time a major payments firm in the U.S. has rolled out such a cryptocurrency so the global mainstream adoption of web3 digital money and economies could be a winner?

Nate

With a built in freeze and liquidation mechanism! Haha. Centralization of power with monetary systems is very bad, we should be going the opposite way.

Jerome Cody

A group of likeminded people in The Most Important Thing are talking about this.