PayPal Hikes Venmo Fees As Bank Of America Says Zelle Gains Momentum [Investor's Business Daily]
PayPal Holdings, Inc. (PYPL)
Last paypal holdings, inc. earnings: 1/29 04:15 pm
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Source: Investors Business Daily
Related news PayPal Holdings ( PYPL ) is raising fees on its Venmo service, a potentially risky move as bank-supported rival Zelle gains momentum. PayPal, which reports third-quarter earnings on Thursday, will increase Venmo's fee starting Nov. 6, Bloomberg reported . The move spurred a backlash from users on social media. PayPal said it will charge 1% when Venmo account holders transfer money quickly to their bank accounts. When the feature was first rolled out, there was a 25-cent fee on the transactions. Users will still be able to do standard bank transfers for free but those take one to three days, rather than roughly 30 minutes for the other method. Bank of America ( BAC ), meanwhile, reported third-quarter earnings on Monday morning and discussed its own Zelle results. Bank of America is one of 30 banks that launched Zelle, a person-to-person mobile payment service, in 2017. Others include JPMorgan ( JPM ), Wells Fargo ( WFC ) and Citigroup ( C ), none of which disclosed thei
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PYPL
News
- Singapore-Licensed Triple-A to Offer PayPal Stablecoin Support [BNN Bloomberg (Canada)]BNN Bloomberg
- PayPal Holdings, Inc. (NASDAQ: PYPL) had its price target raised by analysts at Sanford C. Bernstein from $66.00 to $68.00. They now have a "market perform" rating on the stock.MarketBeat
- If You Fell Victim to a Zelle Scam, Your Bank Might Be Able to Reimburse You [CNET News]CNET News
- Finmo Introduces Direct Real-Time Payment (RTP) Integration in Australia and Expands Global Team [Yahoo! Finance]Yahoo! Finance
- Finmo Introduces Direct Real-Time Payment (RTP) Integration in Australia and Expands Global TeamPR Web
PYPL
Earnings
- 2/7/24 - Beat
PYPL
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- PYPL's page on the SEC website