PayPal is ready to get into traditional banking with debit cards, loans and more
PayPal is looking to expand its services and gain a foothold in more traditional banking services, according to a report from the Wall Street Journal.
The company has been testing a number of offerings in the US over the last few months, including debit cards, ATM cards, and services such as check depositing via photo. PayPal has teamed up with small banks to offer different services as it tries to lure in more business.
eBay to drop PayPal as its primary payment processor
eBay and PayPal have become almost inextricably entwined over the years -- but not completely inextricably. Citing lower costs, eBay has announced plans to drop PayPal as its main payment processor in favor of Dutch firm Adyen.
Starting later this year, eBay will move some of its payments to the new provider, and then by 2020, PayPal will have been replaced as the backend payment service. eBay users will still have the option to use PayPal until at least the middle of 2023.
Now you can PayPal people in Facebook Messenger
Building on an existing partnership, Facebook and PayPal are now making it easier than ever to send and receive money online. If you're in the US, it is now possible to make PayPal payments in Facebook Messenger.
In addition to announcing the new payment option, PayPal has also beefed up its Messenger chat bot. Users will now be able to get access to customer service by chatting with the bot.
Microsoft partners with PayPal on new 'Send Money' funds transfer feature for Skype
Skype isn't the best communication service. Actually, it is often quite bad. Microsoft's development team seems to not care about the user interface as it looks terrible compared to competitors. Quite frankly, it is often a frustrating experience. The saving grace for Skype is its cross-platform nature -- there are clients for all popular operating systems. Not to mention, many users likely use it out of habit and name recognition.
All is not lost, however, as Microsoft still has plenty of time to right the ship and make Skype better. Today, the Windows-maker unveils a new feature that, while cool, doesn't exactly address Skype's needs. But OK, I'll take it. What is it? Well, Microsoft has partnered with PayPal for a new way to transfer funds using Skype. The unimaginatively named "Send Money" feature lets you easily do things like split a restaurant bill with friends or family, pay a dog-walker, and more.
PayPal support is coming to Samsung Pay
Samsung is entering into an "extended partnership" with PayPal to bring PayPal support to Samsung Pay. To start with, PayPal will be available as a payment method in the US first, but it will expand to other countries in the future.
It means that not only can PayPal be used as a source to fund Samsung Pay for POS purchases, but Samsung's Braintree merchants will also be able to accept PayPal payments for online and in-app purchases.
iPhone and iPad users can now add PayPal as a payment option
Apple has offered PayPal as a payment option for quite some time now, but support and availability have been limited. That changes, starting today.
The big news comes for iPhone and iPad users, who will be able to add PayPal as a payment option directly from their device. That integration is rolling out now, with Canada and Mexico being the first markets to get it.
Android Pay and PayPal join forces to provide new payment options
Two of the biggest electronic payment systems currently available to consumers are teaming up. Android Pay and PayPal have extended their strategic partnership making it possible to use PayPal as a payment method in Android Pay.
This means that anyone whose bank is not supported by Android Pay now has a new option available to them, bringing additional users to Google's payment system.
[Updated] PayPal very sneakily increases its charges and adds weird non-discouragement clause for sellers
Nobody likes to share bad news, and PayPal is no different. Price increases certainly fall into the category of bad news, and PayPal has decided to publish the details as "Policy Updates". But it's not just the price hike that's included in this misleadingly-titled document -- there's also something rather weird.
If you are a seller -- such as on eBay or other shopping sites -- you will soon be subject to a "non-discouragement clause". What does this mean? In short it means that sellers are not permitted to encourage shoppers to use another payment method instead of PayPal. Let's drill into the detail.
Facebook introduces PayPal integration in Messenger app
In an effort to make it easier for users to pay through its messaging service, Facebook has added PayPal as a new payment option in the Messenger app.
The deal between the two companies will allow customers to use PayPal when shopping through Facebook Messenger -- and they will even be able to use the service to pay for items purchased through merchants' chatbots. The online payment service had added that it will also be making it easier for users to link their PayPal account to their Facebook account.
PayPal teams up with Mastercard for in-store payments
Just days after announcing a similar deal with Visa, PayPal has now announced it has come to an agreement with MasterCard, as well. This will allow customers to use PayPal to pay in stores, it was said, through the use of smartphones and contactless payment cards. According to multiple media reports, this deal actually means losses for PayPal in the short term.
Wall Street Journal reported that PayPal is "shifting away from promoting free bank transfers to fund customers' transactions and toward the networks, which charge a fee". But with strong competition coming from the likes of Apple or Stripe, PayPal wants to become a "ubiquitous" payment tool, as soon as possible.
A PayPal mystery
A loyal reader of this column has come to me with a problem that I, in turn, am submitting to all of you. He sells downloadable software over the Internet but lately some customers have been ordering, paying, downloading, yet not requesting the required unlocking key to use their software. Money is piling-up in the reader’s PayPal account and he is starting to worry this is some kind of scam. But if it is, it’s a scam that’s new to me.
The first such order was placed on June 4th and there have been 20 such customers so far, though some of those customers have placed double orders so the total amount is $1,758. The reader is in the USA but the orders have come from Belgium, Norway, Switzerland, France, Germany, Austria, Sweden, Japan, and Israel. Nobody has requested an unlocking key and nobody has requested a refund.
PayPal focuses its efforts and drops Windows Phone app
Like many other companies, PayPal is questioning the value of investing time and money in Windows Phone -- or Windows 10 Mobile, if you prefer. As of 30 June, the PayPal app for Windows Phone will be no more.
At the same time, the company is also dropping the apps for Blackberry and Amazon Fire OS. PayPal says that users will have to rely on the mobile website as it focuses "resources in creating the very best experiences for our customers".
PayPal Credit launches in the UK -- a virtual credit card with an interest-free offer
PayPal is, in many ways, the primary choice for making online payments. The company is keen to build on this and has launched a new product in the UK to widen its appeal. PayPal Credit is a virtual credit card that can be used online, and as an incentive to sign up, there's a four-month interest-free offer.
As this is an online credit card, applying for it takes a matter of moments, and PayPal is quick to point out that there's no hanging around waiting for a card and PIN to arrive. Apply online and you could be approved for a credit extension to your PayPal account.
Earn yourself spendable Bitwalking dollars with your daily perambulations
Ordinarily, if you want to receive money just for walking you'd need to do a sponsored walk -- and that money's supposed to go to charity -- or get yourself a job as a dog walker. But how does the idea of getting paid just for the walking you do each and every day sound? That's exactly what Bitwalking promises.
With a name clearly inspired by the Bitcoin cryptocurrency, Bitwalking works in a couple of ways. Walkers can earn 1 Bitwalking dollar (BW$) for every 10,000 steps they take, and these can be spent in an online store, or converted into cash. The system uses a smartphone to count steps, but there are also plans to produce a wristband.
Apple is the best brand in the world
Interbrand has published its Best Global Brands 2015 list. As in previous years, technology companies are well-represented in the list, and this time around it is Apple that takes the top slot. The company, which just launched the iPhone 6s and iPhone 6s Plus is valued at $170 billion -- an increase of 43 percent.
Google finds itself in second place with a $120 billion valuation (up 12 percent from last year), and Microsoft is not far behind in fourth position with a valuation of $67 billion. IBM and Samsung are in fifth and seventh place, and an increase in value of 29 percent to $37 billion sees Amazon just creeping into the top ten. Further down the list there are some new arrivals to note.
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