Apple's growing financial technology tools and services are pulling in PayPal and Venmo offerings. The payments company announced that it is working with Apple on several initiatives "to enhance our offerings for PayPal and Venmo merchants and consumers." It said in an earnings release it is "leveraging Apple's Tap to Pay on iPhone technology." Read More...
Reuters
PayPal’s “prudent” revenue growth forecast cut sinks shares
(Reuters) -Online payments firm PayPal Holdings Inc cut its annual revenue growth forecast in anticipation of a broader economic downturn and said it did not expect much growth in its U.S. e-commerce business in the holiday quarter. Shares in PayPal, owner of the popular Venmo payments app, fell as much as 11% in extended trading on Thursday after the company also reported a decline in third-quarter profit, but they later pared some losses and were down at 9%. As inflation soars to the highest in decades and worries of a potential recession escalate, companies are issuing conservative forecasts to reflect an expected tightening in consumer spending.
