Paypal

Cross-border payments to be PayPal's focus from India perspective

India is becoming an innovator and a leader globally, PayPal CEO says

PayPal enables crypto payments for merchants via 'Pay with Crypto'; details

This feature enables merchants to connect to a crypto market worth over $3 trillion by allowing instant crypto-to-stablecoin or fiat currency conversion

PayPal to integrate UPI for cross-border payments with global partners

PayPal is partnering with NPCI International and global wallets to enable Indian users to make cross-border payments using UPI, starting with US-based merchants

PayPal partners with NPCI, others to launch cross-border payments platform

PayPal's new global platform will enable UPI-based cross-border payments, backed by partners like Mercado Pago, Tenpay Global and Venmo, with rollout set for later this year

How terrorists used Amazon, PayPal and more to finance attacks in India | Pahalgam attack

A new report by the Financial Action Task Force or FATF has exposed how terror groups are now leveraging everyday digital platforms to plan and fund attacks. From e-commerce giants like Amazon

He made billions on Google and PayPal. Now, he's betting on news

Michael Moritz co-founded The San Francisco Standard, a local news organization. It is acquiring Charter, a start-up focused on the future of work

PayPal maintains annual revenue, profit estimates amid US trade uncertainty

The company's results show that consumers are continuing to spend despite worries that Trump's trade war could lead to a recession

'The Mysterious Mr Nakamoto': The tangled story of cryptocurrency's rise

Even in 1999, the notion of a digital currency that bypassed nation-states and financial institutions was not a novel one

PayPal-backed Mintoak strikes India's 1st e-rupee deal, worth $3.5 mn

PayPal and HDFC Bank backed Mintoak has completed the acquisition of Digiledge, which specialises in CBDC and bill payments services

Paytm hits 52-week high after Singapore arm to sell stake in Japan's PayPay

Paytm currently has a cash balance of over Rs 10,000 crore. The Rs 2,364 crore sale would expand it by over 20 per cent

PayPal expects Q4 revenue below estimates as profit push puts growth behind

Efficiency has been a focal point for PayPal as CEO Alex Chriss, who took the helm last year, pushes for cost discipline through job cuts and higher investments in automation and AI

TN inks Rs 900 cr deals with Microchip, Nokia, PayPal on Stalin's US visit

Tamil Nadu Chief Minister M K Stalin signed agreements with multiple global companies during their visit to the US, part of the state's vision to become a $1 trillion economy by 2030

PayPal registers with FIU of India under anti-money laundering law

American online payments gateway service provider PayPal has registered its operations with the Financial Intelligence Unit of India, about six years after a protracted legal battle ensued between the two entities. Official sources told PTI that the company has completed the formal procedure of being designated as a reporting entity under the Prevention of Money Laundering Act (PMLA) recently and has submitted the requisite documents to the Financial Intelligence Unit (FIU). PayPal has also appointed a principal officer, as stipulated under the anti-money laundering law, for conducting official communication with the FIU while the appointment of a director, as envisaged under the same law, is in process, they said. "PayPal has registered as a reporting entity with the Financial Intelligence Unit-India, in compliance with the Reserve Bank of India's recent regulatory framework governing cross-border payment aggregators (PA-CB), which is applicable to the PA-CB industry," a PayPal ...

PayPal to cut around 2,500 jobs as company grapples with competition

PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January. The latest move will affect about 2,500 workers

PayPal to lay off around 2500 employees to 'right-size' the company

PayPal's CEO announced the laying off of around 2500 employees this year, which is 9 per cent of its global workforce, to 'right-size' the company

PayPal moves HC against order holding it as payment system operator

American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it. Senior counsel appearing for PayPal argued before a bench headed by Chief Justice Satish Chandra Sharma that the order passed by a single judge of the high court was wrong. Senior advocate Mukul Rohatgi, appearing for the appellant, also said that the single judge's order cannot be sustained in view of a recent decision of the high court on the issue of payment system operator. The bench, also comprising Justice Sanjeev Narula, listed the appeal for further hearing in September. On July 24, the single judge had set aside a penalty of Rs 96 lakh imposed on PayPal by Financial Intelligence Unit (FIU) -- India for alleged non-compliance with the "reporting obligations" under the law against money laundering. It had also ruled

Intuit executive Alex Chriss to become president and CEO of PayPal

Intuit executive Alex Chriss will become the president and CEO of digital payments company PayPal next month. Chriss will take over the CEO post from Dan Schulman, who told PayPal's board in February that he planned to retire at the end of the year. Schulman will stay on PayPal's board until its next annual shareholders meeting in May 2024. In January PayPal announced that it would cut about 7 per cent of its total workforce, or about 2,000 full-time workers, due to challenging macro-economic conditions. Chriss, who has worked at Intuit for 19 years, has served as executive vice president and general manager of Intuit's small business and self-employed group since January 2019. He led Intuit's USD 12 billion acquisition of Mailchimp in 2021. Other Intuit products include TurboTax and Credit Karma. Chriss will also join PayPal's board, effective September 27. PayPal Holdings Inc., which is based in San Jose, California, is the parent of Venmo, Xoom and Honey, among other brands. It

PayPal rolls out dollar stablecoin to boost digital tokens for payments

With PYUSD, Chief Executive Officer Dan Schulman is seeking to cement PayPal's dominance in digital payments by leaning on technology

PayPal ruling may help India in FATF review of anti-black money regime

A recent Delhi High Court ruling that declared American online payment gateway PayPal a 'reporting entity' under the anti-money laundering law will boost India's efforts to show that its financial systems, currently under a FATF review, are becoming "robust", financial investigators have said. The court of Justice Yashwant Verma on July 24 ruled that PayPal was liable to be viewed as a payment system operator under the Prevention of Money Laundering Act (PMLA) even as it quashed a Rs 96 lakh penalty imposed on the firm imposed by the Financial Intelligence Unit (FIU) in December 2020. The Financial Action Task Force (FATF), a Paris headquartered global body, leads action against money laundering and terrorist financing crimes. A review of the Indian anti-money laundering systems is currently underway and a visit of the FATF team is expected to commence in November. Top officials in financial law enforcement agencies told PTI that the categorisation of PayPal as a reporting entity ..

Delhi High Court's Paypal order to impact fintech compliance costs

US-based PayPal and other payment operators in India will face increased regulatory costs due to the recent Delhi High Court ruling on compliance with the Prevention of Money Laundering Act