At his CES keynote yesterday evening, eBay CEO (and new interim PayPal CEO) John Donahoe revealed a number of new mobile payments forecasts for both eBay and PayPal. As we heard from PayPal VP David Marcus a few days ago, PayPal surpassed its expectation of $3.5 billion in mobile payments in 2011, reaching $4 billion for the year. Donahoe said in his keynote that eBay reached $5 billion in mobile… → Read More
Exclusive: We’ve received more details on how PayPal will be scaling its in-store payments technology at major retailers. As we reported last week, PayPal is currently testing the mobile payments and point-of-sale integrations at Home Depot on a friends and family basis, in five stores. Today, we’ve learned that PayPal is partnering with AJB Software, a company that provides point-of-sale software… → Read More
As we’ve reported in the past, PayPal announced an in-store payments technology both via mobile and point of sale systems that is currently being tested on a ‘friends and family’ basis in a national retailer. That retailer is Home Depot, we’ve learned from PayPal.
PayPal said of the Home Depot announcement: We frequently run trials with our retail partners. In this case, PayPal and The Home… → Read More
When we last left Paypal, the company was busy destroying Christmas for a bunch of kids. This week they’re shredding violins into bits while taking money from unsuspecting sellers. When will we stop trusting these guys? When they kill a puppy?
Regretsy reader Erica sold an ostensibly rare violin to an eBay buyer who paid using Paypal. The buyer disputed the authenticity of the instrument and… → Read More
As online retail sales continue to soar, brick and mortar stores are seeing margins dissipate. Online holiday sales are expected to grow 15 percent to $37.6 billion this season while retail sales in physical stores are only expected to increase by 3.8 percent to $469.1 billion. Best Buy recently reported a 29 percent drop in profits because of discounts and sales of top grossing electronics. The… → Read More
In case you are heading to the movie theatre this holiday season, you might want to pay for your ticket via Fandango. Using the Fandango mobile app, you can now purchase movie tickets using your PayPal account and, in some cases, get your movie ticket straight to your mobile phone, avoiding lines at the ticket counter.
While Fandango has offered PayPal as a payments option on the web, this is… → Read More
We’ve been hearing that PayPal is going to be rolling out an in-store payments experience at a national retailer in the U.S. soon. It looks like the payments giant is testing another in-store payments experience in Sweden, using NFC technology, and partnering with two Swedish developers Accumulate and Point. You can find more information about the partnership here (in Swedish).
Waroncash … → Read More
It’s the holiday season, when a webmaster’s mind turns to thoughts of love and charity. Take Regretsy, for example. The site collected a bit of money and began buying and sending gifts to the kids in the Regretsy community whose parents were having financial problems. In this economy, that could be just about anybody and, the Internet being the Internet, there was an outpouring of affection and… → Read More
PayPal restored sexy social network Zivity’s account tonight after a weeklong battle over whether the website violates its policy. Zivity bills itself as “Hotness. In Person” where “76,102 people just like you rub elbows with models, photographers, and video artists.” But early Thanksgiving morning, PayPal decided it didn’t want to rub elbows with Zivity anymore after four years of doing… → Read More
Black Friday and Thanksgiving Day brought record mobile engagement for PayPal, with 511 percent and a 538 percent increase in global mobile payment volume when compared to Thanksgiving and Black Friday 2010, respectively.
It looks like Cyber Monday is also bringing record sales for the payments giant. The company is reporting that as of 11 a.m. PST, PayPal is already seeing a six-fold increase… → Read More
As we heard earlier today, Thanksgiving proved to be a lucrative day for online retailers. IBM reported online Thanksgiving 2011 sales were up 39 percent over Thanksgiving 2010, with mobile shopping on the rise. eBay and PayPal are seeing similar trends. PayPal Mobile just announced a 511 percent increase in global mobile payment volume when compared to Thanksgiving 2010.
On Thanksgiving in the… → Read More
PayPal relaunched a peer-to-peer payment Facebook app today that some news outlets are misinterpreting as a partnership between the two companies. I’ve confirmed with Facebook that it’s not. It’s just a standard application on the platform, and Facebook couldn’t really do anything to stop PayPal. But why hasn’t Facebook built its own way for friends to send money to each other using its virtual… → Read More
Online holiday shopping reached record levels in 2010. And e-commerce spending is up this year. All signs point to consumers spending even more online this holiday season. I sat down with executives from Google, eBay, PayPal and ShopKick to discuss the trends that are expected to emerge in the e-commerce space over the next few months. They center around mobile, tablets, and deals.
PayPal has… → Read More
PayPal updated its Android application today and has added one notable new feature: support for NFC payments. Using NFC, or near field communication, two PayPal users with NFC-enabled phones can send and receive money using the mobile app.
The feature, which was previously announced over the summer, also includes a “Request Money” widget that can be added directly to the Android homescreen. To… → Read More
We know PayPal has been investing in a comprehensive solution for in-store merchants to integrate the payments service into the point of sale payments experience. Today, on eBay’s earnings call, eBay CEO John Donahoe said that the launch of the new technology will take place in the fourth quarter. He said that the in-store PayPal technology will be tested on a ‘friends and family’ basis in a… → Read More
eBay, Inc. is set to debut its brand new developer business tomorrow, X.commerce and we have many of the details that the e-commerce giant will be announcing at its annual developer conference. As we’ve written in the past, eBay, PayPal, Magento and GSI will be the pillars of the X.commerce platform, which will feature a “fabric” that stitches the platform together with other partners to… → Read More
Exclusive-PayPal is going to be setting up a pop-up store in downtown Manhattan, New York to showcase some of the new tools and technologies the payments giant will debut in the next few months.
The space will be located at 174 Hudson, which is located in the Tribeca neighborhood of Manhattan. Over the next 3 and a half months, PayPal will be inviting merchants to come visit the space where… → Read More
Wow. PayPal released some new public numbers recently that show the payments platform is processing a massive number of payments per day. PayPal says that it saw $3,650 in Total Payment Volume every second in Q2 2011. By our calculations, that means PayPal is processing around $315.3 million in payments per day. On average, the payments platform is seeing upwards of over 5 million transactions a… → Read More
At 500 Startups’ Smash Summit in New York today, Robert Scoble revealed that PayPal is launching something big with Facebook in two weeks, and that it would be a more expansive partnership than the existing PayPal-Facebook integrations. This announcement is coming at eBay and PayPal’s X.commerce Innovate conference in two weeks, we’ve confirmed with the payments giant, and Katie Burke Mitic, who… → Read More
PayPal is boosting its leadership in Asia today with the addition of Visa exec Rupert Keeley. Keeley is joining eBay-owned PayPal to run its payments business in the Asia Pacific market.
This is a win for PayPal because Keeley has significant experience in managing payments services in Asia and other international markets. Prior to joining PayPal, Keeley served as President for the… → Read More
You may remember Noca, a startup that wanted to disrupt the payments industry with a debit transaction product that promised low transaction fees for merchants. Today, the company is debuting its credit card offering, which aims to provide a secure, payments experience for both merchants and consumers.
Here’s how it works. Consumers get to choose a PIN (called Noca PIN) at checkout, allowing… → Read More
Chris Dixon begins this episode of Founder Stories with DoubleClick and FindTheBest Co-founder Kevin O’Conner by telling O’Connor that “DoubleClick is probably the closest thing New York has to a PayPal.” Meaning the two companies share an aptitude for hiring employees that go on to start innovative businesses. Just as Paypal spawned Yelp, YouTube, and LinkedIn, DoubleClick spawned… → Read More
Earlier this year, eBay and PayPal decided to merge their API and developer platform into a combined open platform business, X.commerce. At the time, eBay, which owns PayPal, wanted to developers one ecommerce solution that would offer a “complete approach” to online and offline business. Of course, since then eBay has acquired open source e-commerce storefront platform Magento as well as… → Read More
eBay just posted strong second quarter earnings, reporting that revenue for quarter ended June 30, 2011, increased 25 percent to $2.8 billion, compared to the same period of 2010. Non-GAAP net income came in at $630.9 million, or $0.48 per diluted share. GAAP Net-income actually decreased in the quarter ($283.4 million, or $0.22 per diluted share), a 31 percent drop from the same quarter in 2010. → Read More
Slowly but surely, NFC (the tech that’ll let us ditch our wallets in favor of paying for things with a Jedi-wave of our phones) is picking up steam. After years of floundering around in the US, NFC took a major leap forward when Google announced support for it in Android. Shortly thereafter, Google doubled down their efforts with the announcement of Google Wallet.
Today, NFC gains another huge… → Read More
eBay owned PayPal has been making some interesting acquisitions over the past few months that clearly show the direction of the company in capturing payments flow from digital goods, and physical products at a local level. The company bought local payments and advertising company Where for over $100 million in April, snapped up mobile payments company Fig Card and most recently shelled out $240… → Read More
PayPal is shutting down its Money Market Fund, notifying participants that the fund will be closing as of July 29 of this year.
PayPal users could previously put the money they earned from PayPal transactions in a Money Market Fund to accrue interest. PayPal customers could choose have their free cash balances swept into the Fund in order to earn income until the cash is used. Shares of the Fund… → Read More
PayPal has hit 100 million active users. The company confirmed the milestone today. Last week, the company announced that it was upping estimates of the amount of mobile payments transactions using the technology this year; doubling the estimate to $3 billion in mobile total payments volume (TPV) in 2011.
At the end of last year, PayPal, which is owned by eBay, had around 94.4 million active… → Read More
PayPal is upping its estimates of the amount of mobile payments transactions using the technology this year; doubling the estimate to $3 billion in mobile total payments volume (TPV) in 2011.
PayPal says that the rate at which people are using the payments technology to buy items via their mobile phones is growing rapidly and this is actually the third time the company has had to update its… → Read More
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