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Elon Musk's social media platform X, formerly known as Twitter, announced it will launch peer-to-peer payments this year. 
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Coinbase customers in the US can now use their PayPal accounts to buy bitcoin and other cryptocurrencies.
Vineet Anand's insight:
Strategic partnership between Coinbase and PayPal to drive bridge to easier & trusted path for crypto purchases!
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PayPal has agreed to invest $750 million in MercadoLibre as part of a $1.85 billion equity offering designed to help the Argentinian e-commerce firm cement its position as the Amazon of Latin America.
Vineet Anand's insight:
Paypal invests $750 million in MercardoLibre Argentina as part of its spending spree of $3 billion per annum, Soon PP will have mastered the art of integration and building services through acquisitions.
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PayPal credit reaches a new milestone of $50 billion transaction volume. It is one of the easiest choices for merchants to add deferred option to their site.
Vineet Anand's insight:
PayPal Credit hits $50 Billion milestone in TPV. Interestingly $10 billion was generated in 2018 with Nov & Dec driving $2 billion. BillmeLater acquisition rebranded as PP Credit is starting to gain traction. Competition in the space from Affirm, Klarna, SplitIt, AfterPay will continue - however brand and a sizable 246 million active user base with merchant store acceptance gives PP the advantage.
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A few quarters ago, PayPal Holdings Inc.’s disclosures of its rapid Venmo volume growth came as somewhat of a mixed blessing, since the popular peer-to-peer payment service was a hefty source of losses for the company overall. Venmo still isn’t profitable, but the narrative around the service is starting to change.
Vineet Anand's insight:
PayPal reported 242 million consumer accounts; usage 37 times per year on average, up 9 percent; 21 million merchants - added 13.8 million new accounts in Q4, a 58 percent year-on-year increase. Goal for 2019 is to have 300 million active accounts. eBay represents 10% of business since moving to Ayden Venmo with $68 billion is losing ground to Zelle, however monetization will be key to move from expense to revenue generation with Venmo.
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Zelle, the peer-to-peer payments service, had a banner 2018 with $119 billion in payments on 433 mil
Vineet Anand's insight:
Zelle moves $119 billion in P2P payments with 433 million transaction! Venmo will likely hit $60 million, $17 million in Q3, and has been monitizing itself via supporting services. Is it time for a Fed driven Faster Payments solution for the industry??
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Digital payments company reports Rs 260-cr revenue for FY18 from Rs 21 crore last year
Vineet Anand's insight:
Paypal's investment in India paying off rewards with a 12fold increase in revenues. PP invested $125 million in Pinelabs to gain access to its 300k POS locations and other products. Its domestic operations with 600 staff will help it compete for remittance corridor into India more effectively!
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PayPal's shopping spree continues as the US behemoth makes its third investment in a fortnight, joining with Singapore's Temasek to pay $125 millio
Vineet Anand's insight:
Paypal's early summer shopping spree continues with an investment into Pine Labs along with Temasek for $125 million. As cashless payments make greater inroads within the merchant centric ecosystem, Pine Labs is well placed to gain further traction.
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PayPal and Google are extending their relationship across the search giant's entire ecosystem, including Gmail, YouTube, Google Pay and Google Store.
Vineet Anand's insight:
Partnership to enable usage of Paypal across Google assets requiring payments! Opens doors for other strategic engagements in driving acceptance.
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London has enlisted iZettle for a contactless payments system that enables the city's buskers to accept money from cashless fans.
Vineet Anand's insight:
iZettle, soon to be a PayPal company, is partnering with London City to rollout contactless for buskers!
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MasterCard and PayPal have engaged in a "constructive dialogue" about a possible strategic alliance, according to a report in the Financia
Vineet Anand's insight:
Right on the heels of Visa and PayPal deal, MC is exploring an alliance with Paypal very likely on similar lines as Visa.
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Turkey has been making moves to bring tech business in the country under more localised control, and today big U.S. online payments company PayPal became..
Vineet Anand's insight:
Paypal suspends operations in Turkey due to denial of license from regulator as new rules require IT infrastructure to be based in Turkey!
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Animal welfare charity Blue Cross has enlisted some four-legged fundraisers, kitting out dogs with coats featuring contactless terminals so that Brit
Vineet Anand's insight:
Pat & Tap is a great marketing use case to raise awareness and raise funds for Blue Cross. Contactless cards tapped against a PayPal device on dog coat helping drive PS2 donations.
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Apple is preparing to bring one-touch online shopping to the mobile Web later this year, enabling consumers with Safari browsers running on th
Vineet Anand's insight:
Much awaited Touchid for safari users will be enabled soon. Very similar to in-app purchases web purchase experience will be enahanced similar to in-app expereince. PayPal's One-touch solution has 18 million customers and a million merchants with a significant advantage of being mobile operating system agnostic!
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Samsung Pay had an average of eight transactions per U.S. user within the first four weeks of its launch
Vineet Anand's insight:
Samsung Pay is expanding usage of mobile wallet to lower priced Samsung phones and will allow users to shop online. No new statistics were provided on customer adoption, the mention of using MST looppay technology. Samsung Pay had an average of eight transactions per U.S. user within the first four weeks of its launch in October!
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Finextra: PayPal claims that 10 million people worldwide have opted-in to use One Touch payments, enabling consumers to pay for purchases online with a single click after their first login.
Vineet Anand's insight:
Paypal OneTouch is gaining traction among its 173 million user base, with 10 million opt-ins for the service since launch a year ago!
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Finextra: Klarna, Europe’s leading payment solutions providers, today announced the official launch of commercial operations in the U.S. with Overstock.com as its first major retail partner.
Vineet Anand's insight:
Klarna launches in the US with Overstock as its very 1st merchant. Klarna has been forefront of Swedish online buyers and has presence in 19 countries with about 50k merchants. Its Unique business model allows the customer to pay for goods post purchase and Klarna takes the risk of paying the merchant before it received funds from customers.
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Finextra: PayPal has bought Modest, a 'contextual commerce' startup run by two former senior tech leads on Barack Obama's re-election campaign. Financial terms of the deal have not been disclosed.
Vineet Anand's insight:
Paypal acquires Modest for undisclosed amount. Recent purchases include Paydient, Xoom and more to come as company needs to use the $5 billion in cash within the next few months.
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Finextra: Samsung will introduce its mobile payments service in South Korea later this month, with Visa, MasterCard and several major banks onboard for a US launch in September.
Vineet Anand's insight:
Samsung Pay launches in Korea on Aug 20; Us Sep 28 and UK, Spain and China to follow suit. Galaxy S6 and edge phones along with Note5 to support Samsung Pay. Four key developments happening as we come to the end of 2015 summer:
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Finextra: Payments processor First Data has filed for an IPO that could be worth billions, just eight years after the company went private in one of the biggest leveraged buy-outs ever seen.
Vineet Anand's insight:
PayPal's now has a market cap of close to $50B; Can First Data IPO have a greater market cap than PayPal considering 45% of US credit card transactions are handled by FD and has six million merchants with a likely transaction size higher than PayPal's average of ~$63 across PayPal's 7 million merchant base.
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Finextra: Shares in PayPal rose around five per cent on its first morning of trading back on the Nasdaq following its separation from eBay, valuing the firm at around $50 billion, considerably more than its former parent.
Vineet Anand's insight:
Paypal starts trading again with market cap of $50B!
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Finextra: PayPal is forcing its way into the booming market for international remittances with a proposed $890 million acquisition of money transfer startup Xoom.
Vineet Anand's insight:
Post Paydient acquisition, Xoom appears to be less strategic in nature - it definitely has more value to Xoom than to PayPal. Limited assets Xoom brings to PayPal and with small 1.3 million user base the acquisition per user is ~$684; seems a bit expensive asset to acquire. PP has the cash right now on its books to acquire.
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Finextra: PayPal is to bring its One Touch for Web application to the UK and Canada, enabling consumers to pay for purchases online with a single click after their first login.
Vineet Anand's insight:
Paypal expands One Touch to UK and Canada.
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This week PayPal accomplished a minor miracle, insofar as it managed to partially break the Internet without officially joining the Kardashian/Jenner
Vineet Anand's insight:
Autodial with no opt-in for all phone numbers on record has created a stir in media.... PP is now looking at building some opt-in capability post this outcry!
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Why don’t small merchants accept Apple Pay? That’s easy. Just follow the money.
Vineet Anand's insight:
Forbes author Gene survey indicates 87% of small merchants are not accept Apple Pay and the key driver being lack of incentives for adoption. Upcoming loyalty application will not bring adoption with the SME's that are seeking low cost payment forms. Will Apple Pay be a experience for the high-end smart-phone user at large merchant locations only?
Patrice Meilland's comment,
June 7, 2015 4:12 AM
successfully motivating and building up the ecosystem is becoming paramount in a connected world, and many great ideas or solutions have failed on this account. let's see ifApple can turn this one around !
Vineet Anand's comment,
June 7, 2015 2:26 PM
Patrice - you are spot on the the need to create the ecosystem that has good subscription from merchants and Apple phone users. With the onset of Samsung Pay, Andriod Pay, and Paypal - there will be a growth on paying with mobile phones, however it will take time for phone user adoption as current user experience is very similar to taking out a card at POS. Loyalty and coupons within the apps can generate greater traction - Android Pay is touting that capability and Apple will launch its Apple Pay2.0.
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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X as part of it 2024 strategy plans introduce P2P payments around in Q2/Q3 of this year. X has 14 MT licenses with more in stages of approval.
Part of X strategy (Musk) is to create a WeChat like super app that he calls 'everything app' and to take over entire financial lives without a bank account. As Musk states X will bring “the power of living more of your life in one place".
Super apps have not seen traction outside of Asian markets - do they have a place for developed markets with the growing workforce of Melliniials and Gen-X that will dominate commerce(banking, payments, investments...) and are digital savvy consumers.