After a leadership change and multiple delays, the tech giant won’t offer co-branded bank accounts through its digital wallet. But its Plan B could be a problem for banking as a service firms.

Consumers are still paying bills digitally more often than before the pandemic, extending a valuable volume opportunity for issuers, card networks, and digital wallets.

PayPal users can make offline transactions using the wallet’s QR payment codes on select United flights—and Amex made it easier for customers to add their cards to PayPal.

Visa is reportedly considering reducing the fees that Apple Pay earns from banks on subscription payments—potentially limiting the wallet’s revenues.

If they strike a deal, Pinterest would help the payments giant tap into the massive US social commerce industry.

The European point-of-sale firm acquired customer loyalty startup Fivestars to help it compete in the US against rivals PayPal and Square.

PayPal signed an agreement to buy the Japanese BNPL provider, which can help it gain a stronger foothold in Japan’s budding installment lending market and overall digital payments space.

Residents in eight states will soon be able to add their drivers licenses or state IDs to the Apple Wallet, which might help convert more iPhone owners to Apple Pay users and keep existing users within Apple’s payments ecosystem.

PayPal wants to expand its in-store digital payment solution and card business as cash use falls across Europe.

PayPal’s established customer base would make it a serious retail investing competitor and the SEC’s recent announcements also raise concerns.

But as the brand’s overall digital wallet reigns supreme, it seems to be prioritizing other offerings, including retail payments, fraud management, merchant services, and cryptos—leaving its proprietary P2P option as a companion to its suite of services, rather than a standout feature.

The UK launch is its first international crypto expansion and anticipates the company’s super app goal.

Although BNPL is flourishing, intensifying competition might push providers into new global markets and sectors outside of traditional retail to sustain their growth.