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Maybe it's a company like PayPal I think plays an interesting place where they could fulfill that role, for example, or Venmo, which is PayPal. But you see where I'm going. Tiffani Montez:. All answers are PayPal. Rob Rubin:. Yeah. Tyler Brown:. It is. If you look at our trust survey. Tiffani Montez:. Very true. Rob Rubin:. Yeah.

The raise: UAE-based BNPL provider Tabby bagged $58 million in Series C funding at a $660 million valuation from investors including PayPal, according to a company statement. The fintech has earmarked the funds to expand its consumer financial services product line and said the raise makes it one of the most valuable startups in the region.

PayPal processed almost $5 billion in BNPL volume in the third quarter, a 157% rise year over year. More than 25 million customers use its BNPL product, which is offered by over 280,000 merchants on their product pages. Block鈥檚 BNPL offering, Afterpay, grew 120% over the Cyber Five compared to pre-holiday levels.

I mean the ecosystem and this, I would look a little more generally out there, at not just Apple, but you have Venmo, you have PayPal, you have Google, you have Cash App.

Digital wallets such as PayPal, Apple Pay, Samsung Pay, and Google Pay have made paying by mobile easier and more secure. People are spending more time on their smartphones. In 2023, the average UK adult will spend over three hours a day on their smartphone, per our forecast. That鈥檚 up from 2 hours and 18 minutes (2:18) in 2019. To view the time spent with smartphones forecast, click here.

Payfacs like Block, PayPal, and Stripe onboard a merchant as a subaccount under their master account. This simplifies onboarding and lets a payfac manage multiple relationships and systems on the merchant鈥檚 behalf. These providers also set up merchants鈥� electronic payment and processing services, underwrite their accounts, and process their transactions.

But leading wallets like Apple Pay, PayPal, and Chinese super app Alipay are winning over consumers through education on how they work and the limited amount of data they use, as well as through incentives like loyalty bonuses and mobile ID initiatives. The demographics: Younger and higher-income Canadians are driving mobile wallet growth.

Half (51.3%) of UK adults use PayPal to pay online, while 24.0% use Apple Pay and 16.0% use buy now, pay later (BNPL) services, per our survey with Toluna. AI is speeding up service and product discovery鈥攂ut consumers remain cautious.

A few financial firms (Revolut, PayPal, and Klarna among them) are encountering hiccups as they diversify their services. Meanwhile, Snap and TikTok are pushing into in-app commerce, which moves them closer to super app territory. That鈥檚 clearly the direction Musk wants to take X, but there鈥檚 scant evidence that this approach will be attractive enough to consumers to take off.

Global wallets like Apple Pay, Google Pay, and PayPal have a sizable presence in the region, but local players like JumiaPay, MTN Moto, and STC Pay are gaining prominence in their respective markets. Network International provides an opportunity for CVC Capital Partners and Francisco Partners to extract value from this growing market.

Likewise, PayPal-owned Xoom鈥檚 debit card partnership with Visa can give recipients access to their funds more quickly. Increased banking as a service innovation might drive up these integrations in 2023. New technology can improve the customer experience. Using stablecoins to facilitate transfers, as MoneyGram is doing in partnership with Stellar, can cut transaction times and costs.

Australia was already a competitive market to operate in鈥攊t鈥檚 home to BNPL giants like Block-owned Afterpay and Zip, and other providers like Klarna and PayPal have also moved in. Combined with macroeconomic headwinds, this could have made it difficult for Affirm to grow its business in Australia.

PayPal, same parent company, but they also haven't even broader ambit of services. And I think we're going to continue to see payment riders really push in these directions with their mobile wallets for the exact reason I just mentioned.

I would not rule out PayPal in the mix either. Marcus Johnson:. Yeah. My second question is who do they take this 2% from? Do you see one of these folks suffering more so? Is it PayPal? Is it Apple Pay? Is it Venmo? Google Wallet? Which one is Paze going to steal this 2% from? David Morris:. I think it's going to be the device-agnostic wallets. Marcus Johnson:. Okay. David Morris:.

I'm a PayPal guy. I use it for P2P, in a pinch, maybe a checkup. Rob Rubin:. Jamie? Jamie Toplin:. I use Venmo to pay my friends and family if we're splitting dinner or other purchases, but I actually pay my rent on Zelle. Rob Rubin:. All right. I have to say that I have never really used PayPal. My wife does, but I use Venmo and Zelle. David Morris:. You're really old, I'm old, and Jamie's younger.

But in addition to credit cards, there's also PayPal investing in crypto payments and Stripe, and most of the really big payment names are all doing it. PayPal just launched a proprietary stablecoin last August. They've not released numbers on it. It does seem like low adoption, but they're really setting it up to be used for remittances and other payment transactions like that. Rob Rubin:.

I think the way to explain Amazon Pay is to actually explain a competitor that people would be more likely to know, and that's PayPal. The PayPal buy button, it's ubiquitous. It's all over the internet. Anywhere you go, there's a checkout option and it's PayPal. Amazon Pay has that same offering.

PayPal acquired Happy Returns in 2021 and expanded its network of 鈥渞eturn bars鈥� to more than 5,000 US locations, among them Ulta Beauty stores. FedEx is launching no-box, no-label services for retailers. And delivery intermediaries like DoorDash are setting their sights on reverse logistics as a new revenue source. Retailers are now more willing than ever to expand third-party options.

Cosmetics鈥� mobile app for its Beauty Squad program incorporates two features: receipt scanning for non-app purchases, to ensure that members can obtain rewards wherever they shop for the brand鈥檚 products; and an innovative personalized reward system with options including cash payouts via Venmo or PayPal and gift cards from Chipotle, Amazon, Target, and others.

Powered by cloud-based APIs, modern card issuing leapfrogs traditional issuer processing to help non-financial services companies launch and customize card programs. Here鈥檚 where their offerings will be most disruptive.

And one of the things that we saw this year in that study was that PayPal was now the provider their customers would trust the most to provide them with banking services and trust for other alternative providers was also increasing year over year. Their current bank or credit union was the second most trusted provider in the list that we gave them.

If marketed properly, the tech can help it stand out from rivals and build customer trust before mass industry adoption.

Beauty is a top category for the 43% of UK consumers buying via social media, according to a November 2022 report by PayPal. TikTok, a relatively new entrant to the UK beauty market, is already the tenth-largest ecommerce merchant in the category, per NielsenIQ. Amazon鈥檚 domination of UK ecommerce sales will continue.