PayPal pulled out of the entity overseeing Facebook’s new crypto currency initiative. PayPal was reportedly spooked by backlash from regulators in and outside of the US. Facebook had announced the Libra Association in June, an independent, non-for-profit entity created to Read more
PayPal acquired a 70% stake in Chinese company Gopay, becoming the first foreign company to acquire a payments license in China, according to the Financial Times. The UK newspaper said China’s online payments market is currently dominated by Tencent, which Read more
PayPal added some clarity to its new refund policy that goes into effect next month that will prove costly to sellers. As we reported on the EcommerceBytes Blog on Wednesday, PayPal will no longer credit fees when issuing refunds, stating Read more
PayPal issued an informational report on Friday titled “Delayed settlement recovery” notifying customers that between June 11 and August 23, 2019, there had been a payment processing delay that affected certain transactions. Merchants who were impacted received payment, but the Read more
PayPay will charge more money on transactions involving currency conversion. Effective September 3, 2019, the currency conversion spread will rise to 3.75% for transactions that involve a PayPal currency conversion when paying for goods or services or sending money. The Read more
PayPal wants platforms to offer its payments solution, and this week it announced the PayPal Invoicing API that can be integrated into ecommerce solution providers, marketplaces, and crowdsourcing platforms. The API allows the end user to easily create, send, and Read more
PayPal expanded its international money transfer service Xoom to 32 markets across Europe, it announced on Monday. Note that Xoom is not for ecommerce, in fact, using Xoom for commercial purposes is prohibited. (See the Protect Your Money section of Read more
The word innovation gets thrown around a lot by tech companies, and sometimes it seems decisions are made just for the sake of innovation rather than to pursue realistic opportunities. But PayPal’s Chief Operating Officer Bill Ready lent a steady Read more
The value of currency is its wide acceptance, and the same is true of virtual currency. That helps explain why so many prominent technology and financial services firms are joining together to launch a new global crypto currency called Libra, Read more
Canadian sellers shipping to US shoppers are at a disadvantage when it comes to shipping rates and delivery time. PayPal launched a new shipping solution on Wednesday for Canadian sellers that it says can save them 75% in shipping costs. Read more
