PayPal says 'buy now, pay later' volumes surged 400% on Black Friday [Reuters]
PayPal Holdings, Inc. (PYPL)
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Source: Reuters
Dan Schulman, President and Chief Executive Officer of PayPal Holdings Inc., attends the Viva Technology conference in Paris, France, June 16, 2017. REUTERS/Benoit Tessier/File Photo LONDON, Dec 3 (Reuters) - Volumes on PayPal Inc's (PYPL.O) 'buy now, pay later' platform were five times higher this Black Friday compared with a year earlier as the payments giant starts to gain traction in the fast-growing credit method, the company's chief executive told the Reuters Next conference. PayPal launched its "Buy in 4" platform in August last year, making its entry into the increasingly competitive lending niche. "We saw a 400% year-on-year rise on our volumes going through 'buy now, pay later' this past Black Friday," PayPal CEO Dan Schulman said. "It’s booming right now." He added that more than 9 million people have used its service. Black Friday is the unofficial shopping holiday in late November on the day after the U.S. Thanksgiving holiday. "We had more than 1 million first-time users
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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