PayPal Holdings, Inc. reports developments across its global digital payments platform for consumers and businesses in approximately 200 markets. News commonly covers PayPal checkout, merchant payment processing, Venmo money movement, Braintree and small-business processing, crypto capabilities including PYUSD, and product extensions such as Payment Links and PayPal Ads ID.
Company updates also include earnings releases, partnerships that embed PayPal or Venmo into ticketing, commerce and creator workflows, merchant acceptance additions, rewards programs, board and executive changes, and operating-structure announcements involving its consumer, merchant, processing and crypto businesses.
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Paymentus (NYSE: PAY) has expanded its partnership with Harris Utility Group to integrate its cloud-based billing and payment platform into the SilverBlaze customer engagement platform for utility providers. This enhanced collaboration supports consumer demand for digital payment options, including digital wallets like PayPal and Amazon Alexa. The integration will help utility providers meet customer expectations by offering e-billing and real-time notifications. Both companies have added over 30 new customer accounts, including Santa Monica and Burlington Electric, reinforcing their market position.
ACI Worldwide announced a new partnership with KyckGlobal to enhance digital disbursement options for billers in the U.S. This partnership allows billers to offer customers a variety of payment methods, including international payments and cash options. The collaboration aims to streamline payments in sectors like education and insurance, enabling quick and convenient disbursements. The service utilizes a cloud-based engine that supports multiple payment types, aimed at improving customer experience and reducing disbursement delays.
Criteo has chosen Aerospike's real-time data platform to enhance its global commerce media platform. This digital transformation aims to improve performance while reducing server count by 80%, leading to millions in annual cost savings and decreased CO2 emissions. Criteo's platform, which operates 950 billion requests daily, is set to benefit from Aerospike's capabilities to meet increasing data demands with rapid response times. CTO Diarmuid Gill emphasizes the need for scalability to adapt to exponential data growth.
Nextech AR Solutions Corp. (OTCQB: NEXCF) has announced its acceptance of major cryptocurrencies including Bitcoin, Ethereum, Litecoin, and USD Coin as payment. This integration, via Coinbase Commerce, aims to enhance customer flexibility and positions Nextech as a key player in the evolving crypto economy and Metaverse landscape. CEO Evan Gappelberg emphasized the significance of cryptocurrency in modern finance and its importance for customer engagement. Accepting crypto offers benefits such as reduced chargeback risks and increased transaction speed, aligning with wider trends in the industry.
The press release highlights remarkable growth in the TRON-based stablecoin market, with a transfer volume of $19.93 billion as of November 30, nearing an all-time high. TRON's efficiency is evident with transaction fees under $800,000 for a $20 billion transfer, significantly outperforming traditional payment providers like PayPal, which reported a $310 billion total payment volume in Q3 2021. TRON also leads Ethereum in unique addresses and transfer volume, driven by initiatives in GameFi and NFTs, aiming for future transfers of $30 billion to $50 billion.
Ault Global Holdings, Inc. (DPW) announced that its subsidiary, BitNile, led a Series A investment in Earnity Inc., a decentralized finance marketplace. The investment is part of Ault's strategy to spin off Ault Alliance, allowing BitNile to focus solely on Bitcoin mining and DeFi initiatives. Earnity aims to democratize access to cryptocurrency and plans to launch its beta platform in early 2022. BitNile's executive will join Earnity's board, and joint ventures will be formed to develop DeFi products.
PayPal processed a record-breaking $188 million globally on Giving Tuesday, marking the highest amount raised since the event began in 2012. Over 1.6 million customers across 193 markets participated, contributing more than 2.1 million donations. This initiative reinforces PayPal's commitment to philanthropy, supporting over 600,000 nonprofits worldwide. PayPal continues to enhance its platform, allowing customers to easily donate via the app, the Generosity Network, and more. This reinforces its role as a leading digital donation platform.
On December 1, 2021, PayPal announced that Wix merchants can now offer PayPal Pay in 4 and PayPal Credit through a dedicated Pay Later button. This partnership aims to help businesses maximize holiday sales. Online retail sales reached $8.9 billion on Black Friday 2021, reflecting a strong demand for eCommerce. Merchants utilizing PayPal Pay in 4 reported a 21% increase in payment volume, indicating its effectiveness in boosting sales conversions.
PayPal Holdings, Inc. (NASDAQ: PYPL) reported its third quarter 2021 results ending September 30, 2021. The company continues to lead in digital payment solutions, serving over 400 million consumers and merchants across more than 200 markets. A conference call to discuss these results is scheduled for 2:00 p.m. Pacific time today, with a live webcast available on their investor relations website. For further details, the earnings release and related materials can also be accessed there.