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PayPal drops domain registrar Epik over its 'alternative' digital currency
PayPal has terminated domain registrar Epik's account over the legality of its currency, although Epik is accusing it of political bias.
PayPal will soon let US users buy, sell and shop with cryptocurrency
The company plans to bring digital currencies to Venmo next year too.
Venmo's first credit card offers adjustable cashback rewards
After an almost year-long wait, Venmo's first credit card is here, bringing with it a couple of interesting features.
At 25, eBay is a reminder of a bygone internet
eBay celebrates its quarter-century anniversary this week.
PayPal has a fraud problem
A string of 'invoice' scams suggests PayPal isn't doing enough to prevent fraud.
PayPal and Venmo QR payments are coming to CVS Pharmacies
CVS pharmacies will soon let you do touch-free payments using your PayPal or Venmo accounts by using PayPal’s QR code payment system, PayPal has announced.
Nintendo says 140,000 more NNID accounts were vulnerable
Nintendo's NNID breach was bigger than originally reported.
Nintendo blocks legacy logins after 160,000 accounts were compromised (update)
Some 160,000 Switch users have been the subject of a data breach.
Amazon calls PayPal's $4 billion Honey browser add-on a 'security risk'
A few days before Christmas last year, shoppers who used Honey on Amazon websites started receiving a warning from the e-commerce giant, according to Wired. The popular money-saving browser extension that tracks prices and discounts was a "a security risk," it said, and even advised users to uninstall the extension "immediately." While all browser extensions could pose a risk, Honey isn't a random product developed by some unknown developer -- PayPal purchased it last year for $4 billion in what's its biggest acquisition yet.
PayPal sues US regulator over 'confusing' prepaid card rules
PayPal is a hugely popular option for transferring funds, but the legal status of digital payment systems continues to be contentious. As reported by the Wall Street Journal, PayPal is suing the consumer protection agency for the financial sector in the US, the Consumer Financial Protection Bureau (CFPB). The company is challenging regulations introduced by the CFPB in April this year which required PayPal accounts and other digital wallets to guarantee the same consumer protections as prepaid credit cards.
PayPal buys money-saving service Honey for $4 billion
Even before it split with eBay, money transfer service PayPal consistently sought new ways to part consumers from their cash. It hasn't strayed far from its core competences, acquiring payment companies like Braintree (and as a result Venmo), Xoom and iZettle, but its latest purchase will see the company dive right back into the online shopping space.
Major credit card companies launch a one-click checkout button
If you're shopping on Cinemark, Movember or Rakuten any time soon, you might see a new click-to-pay button at checkout. American Express, Discover, Mastercard and Visa have teamed up to create the new option for fast, secure online purchases. Their vision is to have one standard checkout button across all online retail websites, similar to the PayPal experience.
Venmo will launch its first credit card in 2020
Today, Venmo announced that it's launching a credit card in partnership with Synchrony. The card should be ready in the second half of 2020, and users will be able to apply for, use and manage it through the Venmo app. Cardholders will get real-time, granular alerts and be able to easily split and share purchases.
eBay, Visa and Mastercard pull out of Facebook's Libra cryptocurrency
Stripe and eBay have followed PayPal in backing out of Facebook's cryptocurrency, Libra. They confirmed to the Financial Times that they would pull their support, while Mastercard and Visa have also dropped out.
Facebook's Libra cryptocurrency loses backing from PayPal
A few days after the Wall Street Journal suggested that some companies announced as initial backers for Facebook's cyptocurrency were reconsidering support, PayPal has announced it will end its participation in the Libra Association. Founding members invest $10 million to fund the association, and as CNBC notes, it's unclear what happens to that money if participants pull out of the agreement. PayPal: PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations. We remain supportive of Libra's aspirations and look forward to continued dialogue on ways to work together in the future. Facebook has been a longstanding and valued strategic partner to PayPal, and we will continue to partner with and support Facebook in various capacities. There's no word from other high-profile backers like Mastercard and Visa, while Facebook exec -- and former president of PayPal -- David Marcus previously tweeted that the "official 1st wave of Libra Association members will be formalized in the weeks to come." Meanwhile, lawmakers are pressing for CEO Mark Zuckerberg to testify about the matter. We'll see who remains a backer -- the initial list of 28 names can be seen below -- by then. Mastercard, PayPal, PayU (Naspers' fintech arm), Stripe, Visa, Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, Mercado Pago, Spotify AB, Uber Technologies, Inc., Iliad, Vodafone Group, Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited, Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures, Creative Destruction Lab, Kiva,Mercy Corps, Women's World Banking.
How to sell the Brooklyn Bridge in the 21st century
Scammers, fraudsters, and confidence men have existed since we invented commerce. If there's a system of valuation in place, there are angles to be worked and Brooklyn Bridges to be sold. The rise of social media and our always-connected lifestyles have only compounded the problem, giving unscrupulous hucksters access to virtually every mark the world over. But social platforms taking action to put an end to these fraudulent financial assaults.
Pepsi's loyalty program puts cash in your Venmo account
Do you wish soft drink makers would stop using point systems for reward programs and simply give you cold, hard cash? You're about to get your wish... in a manner of speaking. Pepsi is launching a PepCoin loyalty program that rewards you for buying both a single-serve beverage and a Frito-Lay snack by sending money to PayPal and Venmo accounts. If you scan enough codes on bottles and bags, you'll receive a little bit of cash. You'll have to earn $2 before it goes to your account, but this is real spending money -- you can use it to pay your share of last night's pizza.
How to pay for things securely
We are essentially a cashless society. With the rise of debit cards in the late 1980s early '90s, fewer and fewer of us use paper money to pay for things. Throw in online shopping and single-retailer payment apps like the one from Starbucks, and ATMs seem almost quaint.
Hitting the Books: How big tech might monopolize AI
Welcome to Hitting the Books. With less than one in five Americans reading just for fun these days, we've done the hard work for you by scouring the internet for the most interesting, thought provoking books on science and technology we can find and delivering an easily digestible nugget of their stories.
Venmo can instantly transfer money to your bank account
Venmo's instant transfers are no longer limited to sending money to debit cards. The PayPal-owned service now permits transferring money immediately to linked bank accounts. It still incurs the same 1 percent fee with a minimum 25-cent transfer cost and a maximum $10 outlay. If you can tolerate that, though, it might just save your hide if you're running low on funds or just want assurances that money is sitting in your bank account.
