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Navigating Payments in a Tech-Hungry World

As a society, it is imperative that we are constantly prepared for rapid changes in technology. Every fact of our lives has been turned upside down in the past decade due to new advancements, many of which were heightened because of the pandemic. The COVID-19 pandemic forced us to do many things differently, putting importance on social distancing, contactless operations, and virtual interaction. The payment industry was just one of the many that were forced to change during this time, making way for digital money to rise to the top.

Navigating Payments in a Tech-Hungry World #Infographic



PayPal announced a new log-in system ‘Passkeys’ some time back, and is now rolling it out on its website for Android users. The company also launched passkey support for Apple devices last year. To access Passkeys on PayPal’s website, users must have Chrome on Android 9 or above.

 



Switching your log-in system to Passkeys will not result in your password being removed from PayPal, as it would still be required to log in on unsupported devices. 

Android Users Can Now Log in to PayPal Using Passkeys

Online services remain the most used payment methods in US and UK

Despite experiencing a minimal drop in the 3rd quarter of 2021 as compared to the 2nd quarter, PayPal didn’t stop the hustle of improving in every other aspect. From net income to active accounts and completed transactions, the company is growing in all the right directions. As revealed by the sources, around 66 percent of PayPal’s total earnings in the 3rd quarter came from its USA customers.

According to the infographic below, out of the top three payment methods surveyed in four different countries, PayPal is predominantly used in Germany and China i.e., by 51 percent and 76 percent of the total respondents, respectively.

Online services remain the most used payment methods in US and UK #infographic

 


PayPal has redesigned its app to include a variety of new features, including support for a high-yield savings account and a way to find coupons in-app. The changes made in the app are quite visible at the first glance with the revamped homepage.

 


Previously, PayPal’s app emphasized on displaying the account balance at the forefront. Now, the homepage displays a quick access to a number of things, including your balance, your crypto balance, and your frequent contacts. Other options also appear under different tabs and hubs.

 

Under the wallet tab, you will see direct deposit and PayPal’s credit and debit cards. The payments hub includes peer-to-peer payments, bill pay, charitable donations, and messaging. Similarly, the shopping tab shows coupons and loyalty programs, while the finance tab includes cryptocurrencies and the new high-yield savings account.

 

PayPal Offers a Wholesome Banking Experience with its Updated App

PayPal will support cryptocurrency payments from today

PayPal had been planning to start its support for the cryptocurrency payments for a few months and finally from today, it has officially announced to allow the users to pay with their Bitcoin, Litecoin, Ethereum or Bitcoin Cash. The online payment is made super easy via the app as a dedicated “Checkout with Crypto” option is available.


PayPal will support cryptocurrency payments from today

Corporations That Use the Most Solar Power

In recent years, it's become more important for major corporations to ensure that they're operating to be environmentally sustainable. According to data from the Carbon Majors Database, only 100 of the thousands of companies around the globe are responsible for 71% of the global greenhouse gas emissions dating back to 1998. 

Corporations That Use the Most Solar Power #Infographic

eBay’s change of policies include the acquisition of a bank account before the 14th of February

The recent announcement by the popular auction site eBay has left people wondering about their money and items up for auction. The company has tweaked the policies for sellers by bringing bank accounts into the picture. Apparently, to sell items on eBay, a user must acquire a bank account, or else their ability to relist or create listings will be restricted by the company. While the company has not announced any specific date for the users to commend with the policies but notifications suggest that said changes should be made by the 14th of February.



According to the sources, the company will notify or update the sellers about the bank accounts in phases. However, considering the early update on the site, it is believed that the cycle will come to an end even before 2022. By the end of this year, the company will also be making payments to the major sellers, and this might take a considerable amount of time to get done as eBay is a vast platform where millions of people have signed up to gain or sell something.

eBay’s change of policies include the acquisition of a bank account before the 14th of February

 


Data from the Chinese government has revealed that PayPal Holding Inc is now the first foreign operator that is fully controlling a payment platform in the country - it has acquired 30% stake of China’s GoPay.

 

PayPal has made this stake purchase a year after it bought a 70% stake in GoPay and became the first foreign company licensed to provide online payment services in China.

 

By reaching this milestone, PayPal will now be competing with domestic payments giants like Alipay, owned by Alibaba-affiliated Ant Group, and WeChat Pay, owned by Tencent Holdings Ltd. Meanwhile, Beijing is running an anti-monopoly campaign against Alibaba Group Holding Ltd among other internet companies.

PayPal Takes Full Ownership of China’s Payment Business

 


A recent PayPal phishing attack is attempting to steal users’ account credentials and other sensitive information that can be used for identity theft.

 

The phishing campaign is actively being carried out in the form of text messages that are pretended to be from PayPal, telling users that their account has been permanently limited and asking them to click on a link to verify their account. Usually when a suspicious or fraudulent activity on an account is detected by PayPal, the account’s status is set to "limited," which puts temporary restrictions on activities such as withdrawing, sending, or receiving money.

 

By clicking on the link given in the phishing message, users are taken to a phishing page where they are prompted to log in to their PayPal account. Logging in on the phishing page would send the users’ PayPal credentials to the attackers and the phishing page would even try to collect further information from users, such as their name, date of birth, address, bank details, and more.

 


The collected information can then provide an opportunity to attackers for identity theft and they can even gain access to other accounts using that information.

Active Phishing Campaign on PayPal Attempting to Steal Users’ Account Credentials

The 25 Companies That Grew the Most During the COVID-19 Pandemic

The coronavirus pandemic has not only caused massive devastation to many families and individuals, it has also been severely detrimental to the global economy. Many companies and industries are struggling to stay afloat as the world has experienced an unprecedented shift in how people live their lives. Small businesses are especially impacted, with many of them being forced to shut down permanently due to closures and lack of customers. Data from Yelp shows that 60% of business closures due to the pandemic are now permanent. 

The 25 Companies That Grew the Most During the COVID-19 Pandemic #Infographic


PayPal announced last month that it would be launching support for cryptocurrency and the functionality has finally rolled out for users in the U.S. This means that PayPal users can now buy, sell, and hold cryptocurrencies from their PayPal account. 


The functionality can be seen in the PayPal app by tapping a banner at the top of the main screen that says something about buying cryptocurrency. It will show several cryptocurrency options, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. 

PayPal Users in the U.S. can Now Buy and Sell Cryptocurrencies


According to a recent official announcement, PayPal is going to start supporting cryptocurrency for the first time, which means that all PayPal account holders will be able to carry out financial activities with popular virtual currencies, including storing, buying, and selling. The service will be available later this year.  


This move has definitely made PayPal the topmost significant company in the financial tech sector to adopt support for virtual currencies.  


PayPal’s competitor service Square launched support for Bitcoin in 2018, however PayPal is not only going to support Bitcoin, but other virtual currencies like Ethereum, Bitcoin Cash, and Litecoin as well. 


Moreover, PayPal has plans of extending the support to its money-making subsidiary Venmo and international markets too, starting from early next year.  

PayPal and Venmo are Adding Support for Cryptocurrency

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