BitPay, the startup with ambitions to become the PayPal of the bitcoin world, is today announcing that it has raised another $2 million. And in what is a kind of poetic justice, the round is led by none other than the Founders Fund, the VC started by what’s commonly called the PayPal Mafia. → Read More
Flying under the radar amid a flurry of announcements from today’s Google I/O developer conference is the bigger news of how Google is stepping up its efforts to compete with online payment giants, such as PayPal. It plans to do so with a revamped checkout process for the web, mobile web, within mobile applications running on Android, and more.
It’s a proposed death to PayPal by a thousand… → Read More
PayPal today announced Cash for Registers to encourage merchants to switch to PayPal-powered point-of-sale solutions. The program is part of the payment giant’s bid to be the kingpin among local merchants looking for lower-cost ways of accepting credit card payments. The announcement comes on the same day that Square launched Stand to complement its Square register product on iPad tablets and… → Read More
Expensify is now supporting Bitcoin to give international contractors an alternative to Paypal and the high fees associated with the service. → Read More
Visa today is announcing a key development in its bid to build a ubiquitous digital wallet service to compete against the likes of PayPal. It has signed on Overstock.com as the lastest retailer to use V.me. That service now has 35 online merchants signed up, but Overstock, which makes some $1 billion in online sales annually across categories like furniture, rugs, bedding, electronics, jewelry and… → Read More
PayPal phases out donations to foreign non-profits and charities from Singapore accounts starting tomorrow, the 21st of March, and will complete this by the end of the month. This decision is a result of PayPal failing to get a remittance license in the country from the Monetary Authority of Singapore. PayPal was able to offer remittance services over the years, till the governing body issued an… → Read More
After debuting its in-store mobile payments technology PayPal Here in the U.K. two weeks ago, the payments giant is announcing another set of news around the product: an iPad app. Not only is this the first iPad app for PayPal Here, but it’s actually the company’s first native app for the tablet ever. → Read More
Make way for one more player in the European mobile payments space, and a big one at that. Today, the online payments giant PayPal announced that from this summer it will be rolling out PayPal Here in the UK, its first foray into the European market, equipped with a new piece of hardware to accomodate the chip-based cards prevalent in this part of the world. → Read More
PayPal will stop allowing personal payments in Singapore on February 20. It said in an email to members that this was due to “regulatory instructions”. People will still be able to make commercial payments for goods and services with their accounts, such as at online merchants, or receive funds, but we can expect that fund transfers between personal accounts will be halted. → Read More
PayPal today announced that it has signed a deal with gas station checkout solution Gilbarco Veeder-Root, which will be implementing PayPal as a payment option at all their gas and convenience stores across the U.S. The initial rollout involves integration with Gilbarco’s Passport Point-of-Sale product, but the company says that going forward, PayPal will be integrated into its suite of media and… → Read More
As Facebook continues to build out the App Center and its overall business as a platform for third parties, it’s also tightening up how payment policies work within it. In one of its latest moves, the company has changed how it pays out to PayPal accounts for new (not existing) developers who select that option. Specifically, Facebook now requires extra levels of authentication for new developers… → Read More
OLO, the New York-based online and mobile ordering platform for restaurants, has raised a $5 million Series B round of funding from PayPal and existing investors, David Frankel, RRE Ventures, and Core Capital Partners. The company had previously raised $8.75 million in outside funding. Exactly a year ago today, as it turns out, the company announced reaching the milestone of 1 million customers… → Read More
Following yesterday’s news of PayPal’s expanded U.S. footprint in retail, which saw seven more national chains sign-up to offer PayPal’s in-store payments in their brick-and-mortar stores, the company today announced that it is also partnering with point-of-sale and hardware maker NCR to expand into restaurants, as well as into other businesses, including gas stations and convenience stores. → Read More
PayPal is announcing today that seven new national retailers are using its in-store payments technology. Previously, PayPal had made a commitment to sign-up a total of 20 large national retailers by the end of 2012, and the company now has 23 retailers signed up to implement the eBay-owned company’s technology. And PayPal’s in-store payments offering is now being used in 18,000 brick and mortar… → Read More
Earlier this afternoon, I started seeing a bunch of tweets from science fiction writers and fans about what looked a big screw up at PayPal. Author Jay Lake has been fighting cancer since 2008, and to raise money for a new treatment (whole genome sequencing), he pulled together a number of big-name writers to perform “acts of whimsy” when different funding levels are reached. (For example, fantasy… → Read More
Bitcoin, a heavily underground peer-to-peer payment solution, is starting to peek its head above ground. Today, a payment solutions company called BitPay has announced $510K in investment, led by Shakil Khan, Barry Silbert, Jimmy Furland and Roger Ver. Put simply, BitPay feels like it is positioned to become the equivalent to PayPal for the virtual currency payment processor rival, Bitcoin. I… → Read More
PayPal announced today the launch of its first fully branded cash loading card, called the PayPal My Cash Card, which will allow users to load up their PayPal accounts using cash instead of bank transfers. The card will be sold at pharmacies and discount stores, including CVS, Rite Aid, Fred’s, Dollar General, Family Dollar, and others soon. → Read More
PayPal is testing a new partnership with Wrapp, a social gifting service as a way to gain new users in Sweden. As we’ve reported in the past, Wrapp lets friends give, receive and redeem digital gift cards using mobile devices, and allows friends to contribute to gifts given by mutual friends. → Read More
eBay and PayPal continue to see record mobile sales during the holiday shopping season. Last week, the marketplace company released data that showed that non-holiday days were posting massive gains, with PayPal reporting that its total global mobile payment volume on Sunday, Dec. 2, exceeded that of Cyber Monday by more than $1 million. This past Sunday, eBay posted record mobile shopping days in… → Read More
Forget Cyber Monday, Black Friday and Thanksgiving. Although these days have been breaking records for online and mobile shopping this holiday season, it looks like even individual, non-holiday days are posting massive gains. → Read More
Visa is picking up steam quickly on its PayPal competitor, the V.me digital wallet service. Today it is adding another major U.S. bank, the Bank of America, to its existing list of 50 partners; and it has signed its second international deal, with the Royal Bank of Scotland in the UK, which also includes National Westminster bank. → Read More
PayPal President David Marcus held an informal sit-down with reporters today in San Francisco to address the recent shopping activity over the holidays, PayPal’s strategy on data and mobile, and the potential for the company to take a stake in in-store payments. → Read More
Black Friday numbers are strong across the board, according to initial reports coming in today from retailers and payments companies. As IBM reported earlier today, total online sales saw a surge of 20.7 percent in spending from last year. eBay-owned PayPal is reporting that Black Friday global mobile payments volume was up 193 percent from last year. → Read More
Early reports from yesterday pointed to better-than-expected online sales on Thanksgiving, and PayPal and eBay are reporting strong Thanksgiving numbers on mobile as well. → Read More
PayPal is rolling out a number of payments pilots this week in international markets, showcasing the company’s mobile payments technologies. We’ve seen PayPal test out payments technologies before larger rollouts–the company recently did this with their in-store payments technology at Home Depot and a deal with McDonald’s. → Read More
Lots of people today already use eBay and its ticketing site StubHub for ticket event purchases and trades; today eBay extended and further formalized that role, with a new global partnership with AEG, the sports and entertainment venue giant, to provide ticketing, merchandise sales, and sponsorship for AEG events across eBay and its StubHub and PayPal subsidiaries. Financial terms of the deal… → Read More
We’ve been hearing about these PayPal layoffs, and today the company confirmed this in a blog post today. Due to a product org redesign, 325 full-time roles (and employees) have been terminated. PayPal is also ending contracts with approximately 120 contractors globally. → Read More
Following a recent partnership with mFoundry which saw digital cash network Dwolla introducing more tools for banking partners, the startup is on the move again with the launch of a new service designed to encourage adoption among business customers. Called “MassPay,” Dwolla’s latest addition offers businesses a faster and simpler alternative to check-writing and wire transfers, by allowing them… → Read More
On eBay’s earnings call this past week, CEO John Donahoe revealed that the company’s Square competitor, PayPal Here, had landed its first U.S. retail deal. PayPal Here is now being sold at 1,800 AT&T stores across the US. Previously, PayPal only had an international retail deal in Japan with Softbank. → Read More
eBay just released Q3 earnings this afternoon, reporting earnings per share of $0.55 on revenue of $3.4 billion. Analysts expected EPS of $0.54 and revenue of $3.4 billion for Q3 2012. → Read More
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