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PayPal. Similarweb. Toluna. Unidays.

What鈥檚 in it for PayPal? Allowing spend on a competing wallet may seem counterintuitive: PayPal will lose out on those transaction fees, and it may reduce loyalty between the PayPal or Venmo cardholders and their associated wallets. But letting its cardholders use Apple Pay can bring key benefits to PayPal that the company hopes will outweigh the losses.

PayPal. PYMNTS.com. Reuters. Seeking Alpha. Strike. The News & Observer. The New York Times. United Nations. US Securities and Exchange Commission. Visa.

The news: PayPal is piloting and bringing to market later this year six innovations that use artificial intelligence (AI), per a press release. Enhanced checkout. PayPal upgraded its checkout experience, using AI to remove friction points like password prompts and lagging response times. Fastlane by PayPal. This is a one-click checkout experience that merchants can offer.

The news: eBay added PayPal-owned Venmo鈥檚 buy button as a payment option at checkout on eBay.com and the eBay app, per a blog post. Consumers can pay for the purchases with their Venmo balances or Venmo-linked bank accounts, debit cards, or credit cards. eBay said accepting Venmo would resonate with Gen Z and millennials. Why this matters: eBay is trying to restore goodwill among its younger shoppers.

They鈥檒l be more likely to create a regular Venmo account when they鈥檙e old enough, and it gets them into the PayPal ecosystem. The accounts will also help PayPal compete against Block-owned Cash App, which launched teen accounts in 2021. We expect Cash App鈥檚 user growth will outpace Venmo鈥檚 this year, jumping 10.7% YoY to hit 45.5 million US consumers.

How much will PayPal see in US transaction payment value this year? A) $857.25 billion. B) $1.079 trillion. C) $1.330 trillion. D) $1.638 trillion. US PayPal transaction payment value across all lines will hit $1.079 trillion in 2024, per our March 2024 forecast. July 30, 2024.

But in spring 2024, financial titans Chase and PayPal each launched one, positioning FMNs as an industry game changer. Growing demand and regulatory clarity will encourage more FMN launches this year. Advertisers will need more first-party data, thanks to ad targeting restrictions from the American Privacy Rights Act and Google鈥檚 ongoing changes to how it handles third-party cookies on Chrome.

PayPal. PYMNTS.com. The Financial Brand. Treasury Prime.

Note: Examples of websites or apps primarily engaged in financial services include those of banks (e.g., Chase, Wells Fargo), fintechs (e.g., buy now, pay later services, insurtechs), and payment providers (e.g., Block, PayPal).

Amazon, PayPal, and Visa have joined advisory groups with the Bank of England to explore a CBDC in the UK. Invest in blockchain technology. Blockchain-based payments are the future, regardless of a US CBDC鈥檚 existence. Incumbents like Mastercard, PayPal, Square, Stripe, and Visa are already exploring and integrating crypto payments. Advocate for interoperable systems.

PayPal. TD Bank. Venmo.

PayPal is adding interoperability to its wallets to increase their utility and encourage use. Venmo recently added crypto transfers to other users and external wallets. PayPal launched this feature last year. And through a partnership with Visa+, PayPal will let Venmo and PayPal users to transact with one another later this year. Braintree.

The news: PayPal-owned Venmo now lets users transfer crypto assets to Venmo and PayPal accounts and to external wallets and exchanges, per a press release. Users can transfer Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. In Venmo鈥檚 Crypto tab, users can send their crypto by selecting another Venmo account or entering a recipient's external wallet address.

Financial media networks in particular are becoming mainstream, thanks to new platforms by Chase and PayPal鈥攆ueling a 64.1% increase in US financial media network ad spend this year, per our June 2024 forecast. The rise of commerce media networks is changing the way advertisers approach targeting and how consumers interact with brands. Here are four predictions on these emerging trends. 1.

If Apple makes this same proposal in the US, it could change the dynamic of the mobile wallet industry, giving competitors like Google Pay, Samsung Wallet, and PayPal a chance to fight over Apple鈥檚 share of users. Our take: Given Apple鈥檚 extremely loyal base of customers and the near decade it had to entrench Apple Pay habits, this likely wouldn鈥檛 impact Apple Pay too severely.

The bigger picture: Stripe鈥檚 slowing growth mirrors competitors like PayPal and Affirm, both of which have pivoted to trimming costs and focusing on more lucrative business areas. Stripe is similarly changing tack: Expanding its Amazon partnership should bolster processing volume, and diversifying could grow customer numbers and build new revenue streams.

Industry heavyweights like Mastercard, Visa, and PayPal have all gotten more involved in the BNPL market. Lenders like Ant Bank in Asia and Europe鈥檚 NatWest and Santander have also launched products to try and grab a slice of the growing market. Apple is readying its own BNPL program. The Big Tech firm鈥檚 reach and loyal customer base can help it attract users to Apple Pay Later鈥攊f it launches.

PayPal, for example, enables customers to make payments directly from their PayPal balances, linked checking accounts, and ACH payments, in addition to connected debit and credit cards. And digital wallets are expanding their retail use cases: Amazon just added PayPal鈥檚 Venmo as a payment method, for example.

The report theorizes that Millennials and Gen Zers can鈥檛 tell a checking account from a payment tool because they鈥檙e used to paying with merchant apps, Apple Pay, PayPal, Klarna, and Venmo.

Its entry would likely dampen BNPL growth prospects for Klarna, Afterpay, and PayPal鈥攁nd spell doom for BNPL providers lacking broad wallet ecosystems. Gen Z will be the primary growth driver, but cross-generational marketing could bring more older consumers to BNPL. The number of Gen Z BNPL users will grow by around 64% from 2023 through 2027 to nearly match millennial users.

Wallets, from Apple to PayPal to Paze, are introducing passwordless authentication that can be applied across mobile operating systems.

The affinity for Big Tech firms as banking providers is even more pronounced among digitally native Gen Zers. 42% of Gen Z consumers surveyed in our Gen Z and Banking report listed PayPal as their most trusted banking partner, followed by 32% naming Apple.

It also offers customers third-party payment processing integrations through Stripe, PayPal, and Square. This will likely change with the launch of Squarespace Payments. The proprietary solution鈥攚hich Squarespace plans to launch by year-end, per its Q1 2023 earnings call鈥攕hould make it a payfac. This would enable the company to turn more of its over $3 billion in sales into payments revenues.