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PayPal to Acquire Simility to Expand Global Fraud Prevention and Risk Management Capabilities for Merchants markets.siliconinvestor.com “Digital commerce has exploded, and fraudsters have taken note, adapting and developing new methods to carry out their crimes,” said Bill Ready, chief operating officer, PayPal. “PayPal has been at the forefront of developing innovative fraud prevention and risk management solutions for nearly 20 years, and now, merchants will be able to configure those solutions to manage the unique complexities of their businesses. Together with Simility, we will be able to put more control in the hands of our merchants to fight fraud while helping make commerce experiences faster and more secure.”
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