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PayPal's Solid Q3, Big Crypto Ambitions And Plans To Bring BNPL to Venmo

PYMNTS

It was another quarter of record-breaking results for PayPal , which saw both record transactions and new customer enrollments in Q3. PayPal is now reporting a run rate of approximately $1 trillion dollars in payment volume. Additionally, PayPal reported processing a record 4 billion transactions during Q3.

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Top News In Payments: Facebook Is Developing Its Own OS; PayPal Acquires 70 Pct Stake In China’s GoPay

PYMNTS

In today’s top news, Facebook is developing its own operating system to increase its independence, and PayPal is acquiring a 70 percent stake in China’s GoPay, making it the first foreign online-only payments platform to be licensed in China. Also, Ant Financial buys a stake in Vietnamese eWallet eMonkey. PayPal Now Holds 70 Pct.

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PayPal, Facebook Take Stakes In Gojek

PYMNTS

PayPal and Facebook are collaborating on a funding round by GoJek , the Indonesian digital payments company, to boost their profiles in Southeast Asia’s financial services sectors and fuel its use among small businesses, the tech companies announced. Terms of the deal were not disclosed.

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PayPal Survey Says Americans Game On Smartphones, Prefer Easy Payment Methods

PYMNTS

The results are in: PayPal just released its Digital Goods Economy Survey. Our research insights help merchants of all sizes better understand how consumers are spending their time and money with digital goods, enabling them to cater to this growing audience,” said Melissa O’Malley, director of global initiatives at PayPal. “Our

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PayPal Leads Investment In PPRO

PYMNTS

cross-border ePayment provider, announced on Monday (July 16) a $50 million round of investment led by PayPal. In a PayPal press release , the company said that in addition to its investment, Citi Ventures and returning investor HPE Growth Capital participated in the round of fundraising. PPRO Group , a U.K.

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European Commission Investigating Visa’s Staged Digital Wallet Fees

PYMNTS

has acknowledged the European Commission (EC) has opened an investigation into the company’s eWallet rules. Until the fees were added, businesses that accepted a digital wallet payment, such as Google Wallet and PayPal, were charged the same rates as they would be for accepting a physical credit card.

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PayPal Challenges Paytm For India Market

PYMNTS

PayPal announced that it has launched domestic operations in India, which means it will be taking on China’s Alibaba-backed Paytm , the country’s leading digital payments firm. PayPal, which was co-founded by Elon Musk, will allow Indian consumers to use the platform to shop online at some of the country’s most popular businesses.

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