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PayPal sees growth in Q3 2016

Friday 21 October 2016 | 02:16 PM CET

PayPal has seen an 18% increase in revenue at USD 2.67 billion in Q3 2016, above the expected USD 2.65 billion.

The company brought in USD 87 billion in TPV, below the expected USD 88.3 billion, techcrunch.com reports. PayPal expects full year revenue to be between USD 10.78 billion and USD 10.85 billion.

Earlier this year, PayPal announced a change to the way it does business with Visa and MasterCard. Instead of directing consumers to use the standard ACH bank account payments, PayPal now makes it clear that credit cards are compatible with its service.

This came after pressure from credit card companies concerned about losing business to online bank transfers. More credit card fees will raise PayPal’s costs, but the team is hoping that the easier accessibility will result in more transactions.

PayPal, which acquired Xoom transfer payments in 2015, announced that it is integrating PayPal with Xoom. Customers can make international transfers through their PayPal account.

More: Link
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