JUL 27, 2021
Twitter CEO Jack Dorsey (who also heads Square) suggested Bitcoin payments could soon be accepted on the social media platform. And payments giant PayPal just hired former Chainanalysis exec and crypto expert Jesse Spiro to lead its crypto regulatory affairs, likely to join its budding crypto business unit.
JUL 2, 2021
The small-business-centric point-of-sale solution can push PayPal further into in-store payments and help it court more small sellers—though it’ll face competition from players like Square and Stripe.
JUL 30, 2021
These enhancements, coupled with the company’s decision to raise the weekly crypto purchase limit to $100,000, can help make the service more attractive to customers and help it stay ahead as competitors like Square lean into the space.
MAY 18, 2021
Square, another client, contributed to 70% of its net revenue in 2020. Square also experienced notable growth in 2020—its gross payment volume climbed 6% YoY to reach $112.3 billion in the period. But the firm warned that any reduction in its business with Square could have an adverse effect on its own business.
SEP 15, 2021
Other routes include attaining regular OCC charters, like Varo did; obtaining industrial banking charters, like Square did; and acquiring a licensed bank, similar to how SoFi acquired Golden Pacific Bancorp Inc. in March. It’s worth noting, however, that while this charter can ease the path to licensing for neobanks, it could do the same for dangerous new competitors like Big Techs.
MAR 19, 2021
These could be the logical next steps for the payments giant considering that Square, a major competitor, is reaching into the space with new stock trading options and recently debuted its industrial bank, Square Financial Services. Doing so could aid PayPal’s one-stop financial services shop ambitions and perhaps help the company increase its user base and volume.
JAN 14, 2021
On the other hand, it also boasts a growing array of embedded finance software providers including Plaid, Stripe, and Square, among others, creating a sophisticated ecosystem that’s rapidly positioning the US as the West’s embedded finance leader.
MAY 21, 2021
But Square struggled to translate interest into a surging network or industry-leading engagement, counting the smallest audience and low volume relative to major wallets—positioning that hasn’t changed for years, though monthly active users grew by 50% annually in December 2020, per data sent to us by Square.