Apple’s mobile wallet is gobbling up a growing chunk of card payments around the world. As the service grows, it’s becoming a greater challenge to rivals like PayPal and attracting the attention of competition watchdogs. Apple Pay accounts for about 5% of global card transactions and is on pace to handle 1-in-10 such payments by…
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PayPal reports that peer-to-peer payments tool Venmo is on a path to profitability. In a fourth-quarter earnings report Wednesday, PayPal CEO Dan Shulman told investors the company is pushing ahead on its Venmo monetization strategy. Key enablers include Pay with Venmo, which allows consumers to use the tool to pay at millions of e-commerce sites.…
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Technology giants from Google to Apple are looking to take on the financial services industry. Last year, Apple debuted its credit card; in 2020, Google is set to launch consumer bank accounts. But Big Tech companies share one thing in common: they don’t want to be regulated like banks. Big Tech may want to get…
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New data from U.K. Finance shows that contactless payments in the country continue to grow. In fact, almost 50 percent of all debit card payments are contactless. In July of this year, cardholders in the U.K. made 1.5 billion transactions with their debit cards, which is a jump of 8.9 percent from the previous year.…
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