In March, a software bug threatened to derail large swaths of the web. XZ utils, an open-source compression tool embedded in myriad software products and operating systems, was found to have been implanted with a backdoor. The backdoor—a surreptitious entry point into the software—would have allowed a person with the requisite code to hijack the …
Mobile payment apps such as Venmo, PayPal, and Cash App have grown in popularity in recent years. More than three-quarters of Americans have used these types of apps to send or receive money from individuals. Yet despite the convenience and growing use of P2P apps, there are risks you should be aware of as well. …
The last few years have been difficult for PayPal Holdings Inc.‘s (NASDAQ: PYPL) investors as they witnessed a massive contraction in PayPal’s stock — the price fell close to 80% from its peak of $309 . Although existing investors are understandably frustrated, potential investors have compelling reasons to pay attention to this leading fintech. This …
The majority of consumers in the United States and Australia want the option to buy retail products online from a single, unified platform that spans a range of their day-to-day routines, PYMNTS Intelligence research finds. By the Numbers The PYMNTS Intelligence study “Consumer Interest in an Everyday App,” created in collaboration with PayPal, draws from a …
For account-to-account (A2A) payment providers, PYMNTS Intelligence research finds, education continues to present a huge barrier to adoption. By the Numbers A2A payments, which bypass the middleman to move money quickly from one account to another, commonly enabled by providers such as PayPal, Venmo or Cash App, are gaining ground. In fact, 36% of consumers …
The legal dust-up between PayPal and the Consumer Financial Protection Bureau (CFPB) over digital wallets has notched a win in PayPal’s favor. As reported this week, U.S. District Judge Richard J. Leon ruled that the CFPB “had no rational justification” for placing digital wallets under the rule’s “short-form” fee disclosure requirements. Per the ruling, and …
Interoperability in payments — paying anyone, anywhere, no matter the network — remains a Holy Grail in payments. And interoperability is a work in progress. But bit by bit and app by app, cross-border, cross-network and cross-wallet compatibility is being forged. This week, PayPal and Venmo began offering Visa’s peer-to-peer (P2P) payment system, Visa+. The announcement …
Visa said PayPal and Venmo are now offering its Visa+ peer-to-peer (P2P) payment system. “As we continue to expand the P2P use case in the U.S., Current and Western Union will join PayPal and Venmo in enabling cross-platform money movement,” the company said in a Monday (April 1) news release as it announced the expansion of its P2P and business-to-consumer (B2C) payouts offerings. Additionally, Astra, Brightwell, Cross River Bank and Fiserv plan …
PayPal won a legal victory against the U.S. consumer protection watchdog. According to court documents cited in a Friday (March 29) Law 360 report, U.S. District Judge Richard J. Leon tossed out an aspect of the so-called “prepaid rule” for digital wallets that went into effect five years ago and became the center of PayPal’s case …
Welcome back to Gizmodo’s March Madness bracket challenge to name the greatest app of all time! Following yesterday’s contest, WhatsApp has been eliminated and Google Maps heads to the Final Four. Now, we have to decide between the world’s biggest video app and the premiere method of making easy payments. If you’re just tuning in, …