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Uber riders will be able to pay for a trip with the money sitting in their Venmo accounts. PayPal previously introduced the Pay with Venmo option with food delivery services GrubHub and Seamless. The feature could give Venmo a boost as it fights off digital payment threats from Square's Cash App and bank-backed Zelle. cnbc.com
Daniel Loeb's Third Point unveils new position in PayPal, says it could be next Netflix, Amazon cnbc.com "Consumers love PayPal because it enables hassle-free, one-touch checkout across millions of online merchants," Loeb said in the note to clients Monday. "We see parallels between PayPal and other best-in-class internet platforms like Netflix and Amazon: high and rising market share, untapped pricing power, and significant margin expansion potential."
PayPal reported second-quarter earnings that topped Wall Street estimates on Wednesday. Here's how the company did compared with what Wall Street expected: Earnings per share: 58 cents vs. 57 cents, forecast by Thomson Reuters Revenue: $3.86 billion vs. $3.81 billion, forecast by Thomson Reuters cnbc.com
Jefferies reiterates its buy rating for PayPal shares, predicting it will grow faster than the e-commerce industry. The firm's analyst cites the company's large active user base of 244 million and strong payment volume growth rates. cnbc.com