Tag - Paypal
PayPal is bringing out its Here card reader accessory to the United States, following releases in the United Kingdom and Australia over the last two years. The Here Chip Card Reader will allow small retailers to accept card payments via their smartphone or tablet, but this version includes support for EMV chip card transactions and contactless payments, as well as the traditional magnetic stripe system most US-based card transactions use.
Digital money transfer providers PayPal and Xoom have announced a definitive agreement under which PayPal will acquire Xoom for $25 per share in cash or an approximate $890 million enterprise value. The transaction represents a premium of 32 percent over Xoom's three-month volume-weighted average price and was unanimously approved by the Boards of Directors of both companies, as well as the Board of eBay, PayPal's parent company (for the time being).
Online auction giant eBay today announced that its board of directors has approved the completion of the previously announced separation of eBay and PayPal into independent publicly traded companies. The separation will occur through a pro rata distribution of all of the stock of eBay's subsidiary PayPal Holdings to eBay stockholders. The stock distribution still awaits necessary regulatory approvals, both in the US and overseas.
PayPal will pay out $25 million in fines and restitution, as part of a settlement in a case claiming it deceived customers over credit schemes. The Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed consent order to a federal court on Tuesday that PayPal enrolled customers into PayPal Credit without their permission, promoted benefits it failed to provide, and mishandled disputes over billing.
PayPal has made two announcements relating to mobile payments at Mobile World Congress, including an acquisition. The company has purchased Paydiant, a startup that provides mobile wallet services to retailers and banks for payments, loyalty cards, and coupons. At the same time, PayPal advises it will be making an updated version of its Here Chip and PIN reader, this time one that works with NFC.
File storage locker Mega has experienced a major setback. Effective immediately, and at the alleged exhortation of the US government, Paypal has ceased processing payments for the service, despite PayPal's reported confirmation that Mega is a legitimate business. PayPal has since said that the company's "unique encryption model" securing its files presents an insurmountable difficulty to confirm legal compliance.
New York City is considering upgrading its options for paying parking tickets to include more modern platforms, such as Apple Pay, according to MarketWatch. The focal point would be a new mobile app allowing people to scan a ticket and then use Apple Pay, or other options such as PayPal or potentially Bitcoin. The same app would give drivers the choice to schedule a hearing instead.
Apple has begun accepting PayPal at its US and UK online stores, reports note. The option has been present for some time when making a purchase through iTunes, including the App Store and the iBookstore, but missing from Apple's websites. When checking out, PayPal is listed as the only alternative to a credit or debit card.
PayPal is filling out its roster of apps for mobile payments by smartwatch, with the launch of its first Pebble app. Available to download from the Pebble App Store, the PayPal app allows the wearer to make payments in stores directly from the watch, without needing to bring out their payment card or having to interact with the smartphone PayPal app.
Apple and PayPal were indeed in talks regarding Apple Pay, but those were cancelled after Samsung signed a deal to let people make PayPal transactions using the fingerprint sensor on the Galaxy S5, sources say. The people suggest that Apple was so upset that it not only backed out of talks but chose to exclude PayPal as an acceptable platform in developer documentation. Blame has been laid on eBay CEO John Donahoe, who went ahead with the Samsung deal despite opposition from former PayPal president David Marcus, who reportedly believed it might cause problems with Apple.