PayPal has confirmed that UPI will be part of its new global payments platform, PayPal World. This platform is designed to connect major digital wallets and payment systems worldwide, starting with PayPal, Venmo, UPI (via NPCI International), Mercado Pago, and Tenpay Global.

With this integration, Indian users will be able to make international payments using UPI. For example, someone in India shopping on a US-based website that supports PayPal will see the familiar UPI button at checkout and can complete the transaction using their usual payment app. This removes the need for a credit card or international payment account.

The platform will also support cross-border peer-to-peer payments. A Venmo user in the United States will be able to send money directly to a PayPal user in another country. This is the first time PayPal and Venmo will work together like this.

Businesses that use PayPal will automatically be able to accept payments from nearly two billion users who rely on domestic wallets like UPI and Weixin Pay. There is no need for extra coding or integrations. This helps businesses reach new customers without changing how they operate.

PayPal World will use open APIs and a cloud-based setup to support fast, secure transactions across multiple regions. The platform is built to work with different devices and will be compatible with new features over time, such as stablecoins and dynamic payment buttons.

Ritesh Shukla, CEO of NPCI International, said the move will help grow UPI’s reach beyond India and make global payments easier and safer for Indian users. PayPal World will begin rolling out this fall. More wallet and payment system partners are expected to join as the platform grows.

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PayPal, one of the pioneers in the online payment world, has finally taken the plunge to integrate its credit and debit cards with Apple Pay. This move comes years after most other financial institutions embraced Apple’s wallet system, leading many to ask, “What took PayPal so long?”

Paypal seems to be finally catching up with the current online payment scenario

For years, PayPal users could only look on as folks with cards from other banks breezily tapped their iPhones to make purchases. But now, a new banner in the PayPal app home screen prompts users to add their PayPal cards to Apple Wallet. Users can also manually add their cards through the Wallet app if they prefer.

This integration was hinted at last year when PayPal announced a three-part plan to improve its adoption of Apple Pay. It’s a sign that PayPal is finally catching up with the current tech landscape, acknowledging that people want seamless options. But the delay suggests that PayPal, once an industry frontrunner, might be slowing down in terms of technological adaptability.

Interestingly, Venmo—PayPal’s sister service—has not yet confirmed its support for Apple Pay, even though this was expected as part of PayPal’s broader Apple Pay integration strategy. It adds a layer of curiosity about how synchronized the two services really are, and whether Venmo’s delay will further impact PayPal’s competitive edge.

In summary, while it’s good news that PayPal is finally jumping on the Apple Pay bandwagon, the delay in doing so opens up questions about its agility and adaptability in a rapidly evolving digital payment landscape.

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With the rise of contactless payments and the decline of cash usage, it has become crucial for businesses to adapt to this new consumer behaviour. Recognizing this need, PayPal has introduced Tap to Pay on Android for Venmo business profile users in the U.S., allowing them to accept contactless payments directly on their Android mobile devices without any additional hardware or upfront costs.

Tap to Pay is already available for all Android Users in the US

Traditionally, small businesses had to invest in and manage card readers to meet the expectations of their customers who increasingly prefer contactless payments. However, with Tap to Pay through Venmo, businesses can now start accepting contactless cards and digital wallets within minutes, using their existing mobile devices. This not only eliminates the need for additional hardware but also streamlines operations and cash flow management, as all funds settle into their Venmo accounts.

Ed Hallett, Head of Product, Microbusiness at PayPal, stated, “Tap to Pay is the last milestone in the democratization of in-person card payments, where users can start taking card payments with no setup cost in a matter of minutes.” This innovative technology opens up access to frictionless payment options for the millions of businesses using Venmo and PayPal Zettle, driving sales and enhancing customer convenience.

Several Venmo business profile users have already experienced the benefits of Tap to Pay. Heather Driscoll, founder of Magical Box Bakery, shared her positive experience, stating, “With Tap to Pay, I can accept credit and debit cards directly on my phone, manage all of my transactions in one place, and have my funds settle directly within the Venmo app.”

While Tap to Pay on Android will be available for all Venmo business profile users in the coming months, businesses can request early access. Additionally, Tap to Pay on Android is already available for all PayPal Zettle users in the U.S. Furthermore, Tap to Pay on iPhone is currently accessible to select Venmo business profile and PayPal Zettle users, with plans to expand availability to all users in the near future.

By introducing Tap to Pay, PayPal is empowering small businesses to thrive in an increasingly cashless society, providing them with a convenient, cost-effective, and streamlined payment solution. With this technology, businesses can effortlessly adapt to evolving consumer preferences, boost sales, and stay ahead in a rapidly changing market.

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PayPal, one of the leading and well-known online payments platforms, is in advanced talks to acquire digital pinboard platform Pinterest for $45 billion. The development was first reported by Bloomberg, citing people aware of the matter but didn’t want to be identified.

If the deal goes through, then it will mark the biggest acquisition of a social media company so far. Currently, Microsoft’s acquisition of LinkedIn for $26.2 billion in the year 2016 is the biggest transaction in this category.

A source aware of the development has said that PayPal is offering $70 per share for the acquisition of Pinterest, mostly in stock. If everything goes as expected for the online payments provider, then the deal could be announced early next month when PayPal reports its quarterly earnings.

However, do note that the deal isn’t certain yet and the terms associated with it could get changed. As the news surfaced online, the shares of PayPal fell while Pinterest saw a surge in its shares.

With the acquisition of Pinterest, PayPal would be able to capture more of the e-commerce growth as online shoppers are following influencers on platforms. It will also help the company diversify its income with advertising revenue.

Pinterest was valued at about $13 billion when it went public in 2019 and since then, the company saw a huge spike in users looking for crafts and DIY project ideas because of the COVID-19 pandemic. The company has warned about slowing user growth, especially in the US, as lockdowns eased.

The price offered by PayPal for the acquisition of Pinterest, founded in 2010, is 62 times the social media company’s earnings before interest, taxes, depreciation, and amortization over the last 12 months.

PayPal has turned towards acquisition to boost its e-commerce offerings. In 2019, the company purchased Honey Science for $4 billion, and earlier this year, it acquired Japan-based Buy-Now-Pay-Later (BNPL) firm Paidy for $2.7 billion. It has also acquired return-service provider Happy Returns in May this year.

In related news, Pinterest co-founder Evan Sharp announced last week that he would step down as the company’s chief creative officer to join LoveFrom, a firm led by Jony Ive, known for designing many Apple products.

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PayPal recently entered the Chinese market to take on giants like Alipay. However, it has made a breaking announcement in India and it isn’t April Fools by any means. The company will shut down its domestic business in India in less than two months time.

PayPal, in a statement(via Reuters), said that from April 1, 2021, it won’t offer domestic payment services within India. It added that it is going to shift away from domestic products and bring more international sales via cross-border payments to Indian customers.

For the unware, PayPal began the local payment operations in India back in 2017. Its operations include the Payment Gateway and Aggregator services for various merchants within the country. Speaking of which, starting from February 6(i.e., Tomorrow), it will notify Indian merchants about the new decision.

PayPal is an American Online Payments System company. Its scope of business in India includes gateway services for brands like Myntra, Swiggy, BookMyShow, etc., and cross-border payments for businesses.

The company has its centers(i.e Offices) in cities like Chennai, Hyderabad, Mumbai, and Bangalore. India’s digital market is growing rapidly and the company’s economy is expected to $1 trillion in the next decade. Apart from PayPal, we have giants like Paytm, Google, Amazon running domestic payment systems in India.

All these companies run digital payments by following guidelines issued by the Reserve Bank of India(RBI) and use the Unified Payments Interface(UPI) gateway developed by the National Payments Corporation of India(NPCI).

Anyway, PayPal’s Global customers can still pay Indian Merchants after April 1 as it will focus more on international trade.

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Global payment platform, PayPal Holding Inc incursion into the Chinese market has resulted in the company becoming the first foreign operator to have 100% control of a payment platform in China. This much was revealed by recent data emanating from the Chinese government, as the U.S. firm makes giant steps to have a greater foothold in the fast-evolving and booming market for online payments.

Last year, PayPal completed the takeover of the payment platform, GoPay by buying its remaining 30% stake, according to shareholder data from the National Enterprise Credit Information Publicity System.

The financial details of the deal weren’t disclosed in the data. The purchase came one year after PayPal bought the initial 70% stake in GoPay for an undisclosed amount at that time, which made it the first foreign company to enjoy such ownership privilege and licensed to provide online payment services in China.

At this time, PayPal is yet to give an official statement on the issue, as it declined to comment.

How this affects PayPal

The implication of taking total control of a company, albeit a small player, in the Chinese payment market is that PayPal has to compete with domestic heavyweights like Alipay and WeChat Pay in the world’s largest payment market, as it makes inroads into the ever-expanding Chinese financial system.

The purchase comes in the wake of a deliberate government policy to ensure a level playing field for all players and Beijing’s move to prevent monopoly in any sector of the economy.

PayPal had appointed Hannah Qiu as head of China business in August 2020, and she’s responsible for formulating a long-term strategy that would drive the company to have a firm foothold on the Chinese economy. Qiu is a former executive at insurer Ping An Group’s fintech unit OneConnect.

PayPal will focus on providing cross-border payment solutions to Chinese businesses, merchants, and consumers, leveraging on its global network to provide seamless services for its Chinese customers. PayPal has its job cut out, as this segment of the payment market also has some big names.

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PayPal has received the green light to acquire a majority stake in the local payments platform, GoPay. With this approval from the People’s Bank of China (PBOC), PayPal has become the first foreign payment platform to enter the Chinese market.

According to the statement from GoPay, PayPal will acquire a 70% controlling stake in the company through one of its subsidiaries called Yinbaobao based in Shanghai. With this move, PayPal will compete with the likes of local payment platforms such as Ant Financial’s Alipay and Tencent’s WeChat Pay, both of which are extremely popular in China. GoPay has licenses to carry out online as well as mobile transactions.

Although this approval from PBOC may come as off as surprising to many given the recent trade war, it is in line with the statement made by China’s central bank last year. The central bank said that it will open up China’s payments market to foreign companies to improve competition. In this regard, American Express was approved to set up card-clearing services in China late last year.

PayPal is yet to disclose the terms of the deal. But it said that the deal is expected to close by Q4 2019.

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Gaming phones are quite popular among those who fancy playing games on their mobile devices. Regrettably, these handsets aren’t easy on the pocketbook.

While most gaming mobile phones from popular brands available on the market carry steep price tags, here are a couple top-branded gaming phones that you can buy without spending a lot of money on GeekBuying. Moreover, we’ll see how to get extra discounts at checkout in just a bit.

Xiaomi Black Shark 2 Gaming Smartphone (8GB RAM+128GB ROM)

The latest gaming phone from Xiaomi dubbed, the Black Shark 2 doesn’t come cheap. In fact, it will set you back a whopping $781.99 on both online as well as offline stores. Much to the delight of cost-conscious buyers, it is now available for only $559.99 on GeekBuying.

You can extend this 28 percent discount by applying coupon code MOMFKPQL. The coupon helps you save $14 more by reducing the original asking price of the Xiaomi Black Shark 2 Gaming Smartphone to only $545.99. You can follow this link to avail the discount. Note that the promo is slated to end in just five days.

Nubia Red Magic 3 Gaming Smartphone (6GB RAM+64GB ROM)

The Nubia Red Magic 3 was unveiled in May this year. As expected, the feature-rich gaming smartphone became an instant hit among mobile gamers. The well-received device has now gone up for pre-order bearing a lowered price on GeekBuying.

While it usually retails for $724.99, mobile gamers living on a tight budget can buy the Nubia Red Magic 3 for just $605.99. Moreover, you can use coupon code PPSUMMER for an additional $5 off. In other words, you can reduce the original asking price of the phone to only $600.99 simply by using the aforesaid coupon.

You can follow this link to take advantage of the discount and use the coupon before it expires. Note that the coupon code PPSUMMER can also be used to grab an extra $5 off for orders over $60 if you buy from GeekBuying’s PayPal activity promotion page.

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Known for offering the best bang for your buck, Banggood has a reputation for doling out great discounts and unmissable deals on a wide selection of products from time to time.

Staying true to its notoriety, the Chinese online store has launched a new promotion called ‘PayPal Only’ in collaboration with the worldwide online payments system.

Brimming with exclusive offers you cannot say no to, the recently kicked-off promo has been split into multiple categories, enabling Banggood users to find exactly what they’re looking for without breaking a sweat.

Aside from taking full advantage of the discounts, Banggood users can save a considerable amount of extra money simply by using specific coupons during the check out process.

For instance, those spending $100 or more on the items available on the promotion page can get a $12 off. Banggood users who end up spending $60 or more will qualify to save $5 at the time of checking out.

You can use coupon code MarPaypal10% in order to get the aforesaid additional discount; however, it is imperative for you to bear in mind that the coupon will expire at UTC+8 on March 13th.

It is also worth noting that the coupon will specifically be valid for the items featured on the promotion page.

In order to facilitate and expedite the search process, all products available as part of this promotion have been added to specific categories.

More importantly, you can avail noteworthy discount on all items included on the promo page.

For instance, there’s a 29 percent off on the Xiaomi Pocophone F1 Global Version that usually sells for S$499.99, but thanks to the discount you can now buy it for only $356.88.
Aside from grabbing this discount, you can use the above-mentioned coupon and get an extra discount before placing your order.

The rest of the categories including Top Pick, Hot Sale, RC Drone, Electronics, Consumer Electronics, Outdoor etc. are also rife with all sorts of electronic items that you can buy without burning a hole in your pocket.

You can follow this link to visit the promotion page and take full advantage of the discounts. Note that the coupon code will expire soon.

Check Out PayPal Only Promotion On Banggood

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Google Wallet now supports Paypal! From now on, if Android customer need to consume on Google Play, they can choose Paypal directly. However, there are only 12 countries can use the function, others may wait for a time. Users can still pay by credit cards.

Apart from UK and the US, the 12 countries include Austrian, Belgium, Canada, Finland, France , Germany, Ireland, Italy, Dutch and Spain.

Just be aware, Paypal payment only supports APP download and digital contant (e.g. movies hiring), it can’t buy accessories or equipments.

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