PAYPAL news and archive

EU must challenge PayPal, Apple in payment services: ECB

European Union countries must foster payment services that work across the continent to boost its financial sector and reduce dependence on third countries like the United States, a top European Central Bank official said Monday. "Large non-European companies now play a significant role in the provision of payment services in Europe, while...

Retail

Abercrombie & Fitch partners up with PayPal’s Venmo to please Millennial consumers

Users of the Abercrombie & Fitch and Hollister iOs and Android apps can now pay for their purchases using Venmo, the person-to-person payment platform owned by PayPal. “We are excited about our Venmo integration, as we know Venmo is an increasingly popular payment option among our Millennials and Gen Z customer bases”, said Joanne Crevoiserat,...

Business

PayPal to acquire fraud-prevention platform Simility

PayPal has announced that it is to buy Simility, a fraud prevention and risk management platform, for 120 million dollars, as it looks to enhance payment experiences for merchants and customers by reducing fraudulent activity. “Digital commerce has exploded, and fraudsters have taken note, adapting and developing new methods to carry out their...

Business

PayPal acquires iZettle

PayPal has announced that it is to buy iZettle, the small business commerce platform in Europe and Latin America, for 2.2 billion US dollars, as it looks to expand its in-store presence and strength its ominichannel platform to help small businesses around the world. The deal will see PayPal gaining in-store capabilities in 11 markets, Brazil,...

Business

eBay and PayPal finalise new payment deal

Auction marketplace eBay has confirmed that it will offer PayPal as a way to pay on its website until July 2023, making PayPal a payment option on its new intermediated payments model. “PayPal has been a great partner for eBay, and as part of our new payments experience PayPal will continue to be a key form of payment for our global customers,”...

Retail

British retailers encouraged to take advantage of the 4th of July

London - Paypal UK is encouraging British online retailers to try and tap into the upcoming spending spree taking place in the run up to the 4th of July, the United States Independence Day, as its slated to become the next big international shopping holiday following Chinese New Year and Single's Day. The National Retail Federation in the US...

Fashion

Pakistan to invite PayPal, Alibaba to start e-commerce services

Pakistan is set to invite global online payment giants PayPal and Alibaba to offer their services in the country, the IT ministry has said, after easing its e-commerce rules. The move follows a decision by the global Financial Action Task Force to remove Pakistan from its list of high-risk and non-cooperative jurisdictions linked to money...

Business |ANALYSIS Featured

eBay buys Twice, parts ways with PayPal and reinforces its fashion strategy

eBay is taking its quest to become a big player within the fashion industry quite serious. The giant online retailer has acquired Twice, an online secondhand clothing marketplace, to help power eBay Valet, an assisted-selling service connected to eBay's marketplace. Founded in 2012, Twice is a start-up backed by venture capital firm Andreessen...

Apparel

eBay to offer credit to small businesses

eBay's new partnership with the British Fashion Council may only be applicable to emerging contemporary fashion brands, but other retailers can benefit from its new credit initiative. After a successful trial in the US, eBay plans to extend finance to small companies through its PayPal subsidiary. The initiative would bring working capital and...

Apparel

E-wallets to rival cards as most popular online payment type

Alternative online payments are to overtake credit and debit card payments globally by 2017, according to WorldPay’s ‘Your Global Guide to Alternative Payments’ report. The study found online purchases made using alternative payments, any form of payment other than credit or debit cards known as e-wallets, will rise to 59 percent in 2017, from...

Fashion

Retailers create integrated Facebook stores

About 10 years ago the thought of even making purchases on a brand’s website seemed new wave. However, now retailers seem to have hit an e-commerce slide, where their own online stores are no longer sufficient and they are looking to create mini outlets on social networking sites. Goaded on by the marketing presence they have developed on sites,...