Friday, July 22, 2016

Deal with Visa opens Paypal away at tills – FAZ – Frankfurter Allgemeine Zeitung

San Jose (AP) – the online payment service Paypal will also advance through a partnership with Visa to shop at the store checkout.

with the deal to PayPal customers can pay to all card terminals which support contactless payments with Visa cards. This service will be available initially in the US.

Currently, introduced readers for contactless payments via NFC near field in a big way, the conversion is to be completed in the next few years. This also payments via smartphone should be made possible. About the deal with the credit card company Paypal can compete on iPhones or Samsung Pay on smartphones by the South Korean market leader, among other things with Apple Pay. For Paypal is the biggest push to be used to pay in stores.

Paypal and Visa also finished so its longstanding conflict. Visa was unhappy that Paypal customers to tempted to connect their accounts with the online service directly to their bank accounts instead of using their credit cards. The Group thus escaped business. At the same time Visa moved itself into the business of online payments and wallets in front and made so Paypal competition.

The deal will increase the turnover with Visa cards, said the head of the credit card company, Charlie Scharf, in a conference call with analysts. For the agreement entails that Paypal will give the banks that issue Visa cards, more data on transactions.

The two companies did the same against current quarterly figures. Paypal announced that the number of active customers in the last quarter grew by eleven percent to 188 million. Revenue rose 15 percent to 2.65 billion, and the profit climbed by six per cent to 323 million dollars. The company was a year ago to the trading platform Ebay and has since independently.

When a visa in the last quarter pushed the integration of European business pushes the profit. In the last quarter of the financial services group earned $ 412 million. The charges related to the integration of Visa Europe hit with nearly 1.9 billion dollars on the bill. A year earlier, there had been a profit of 1.7 billion dollars. Revenue rose meanwhile by 3.2 percent to 3.63 billion dollars.

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