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News on Medial
Payments processor Stripe expresses interest in PayPal - The Economic Times
Economic Times
·
12h ago
Medial
Stripe, a leading payment processing company, is considering acquiring all or parts of PayPal Holdings, according to sources. This interest remains preliminary, with no certainty of a transaction. PayPal has faced modernization challenges amid competition from Apple and Google, while Stripe recently achieved a $159 billion valuation. PayPal is undergoing leadership changes, with Enrique Lores set to replace Alex Chriss as CEO. The company's fourth-quarter results fell short of expectations, reflecting ongoing struggles.
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Klarna to launch dollar-backed stablecoin as race in digital payments heats up - The Economic Times
Economic Times
·
3m ago
Medial
Swedish fintech firm Klarna plans to launch a US dollar-backed stablecoin, KlarnaUSD, by 2026, fully backed by the US dollar. Positioned for everyday payments and cross-border transactions, the stablecoin aims to be a faster and cheaper alternative to traditional banking. It will run on Tempo, a blockchain developed by Stripe and Paradigm. This initiative aligns with heightened regulatory frameworks in the US and Europe, similar to efforts by PayPal and Stripe.
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Xflow secures $16.6 million funding from PayPal, General Catalyst, other investors - The Economic Times
Economic Times
·
17h ago
Medial
Cross-border payments startup Xflow has raised $16.6 million in a funding round led by General Catalyst, with participation from PayPal and existing investors Lightspeed, Stripe, Moore Capital, and Square Peg. With this round, Xflow's total funding reaches $32 million. The startup, founded in 2021 by former Stripe executives, aims to expand its customer base and develop new products. Xflow is authorized by the Reserve Bank of India and plans to enter markets like Singapore, the Middle East, and Europe.
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PayPal attracts takeover interest after stock slump - The Economic Times
Economic Times
·
1d ago
Medial
PayPal Holdings, the digital payments pioneer, is experiencing takeover interest after its stock value nearly halved. The company, based in San Jose, has engaged in meetings with banks due to unsolicited interest from buyers. Interest is still preliminary and may not result in a deal. PayPal's shares have decreased by 46% over the past year, facing competition from Apple Pay and Google Pay. Enrique Lores is set to become PayPal's president and CEO in March.
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PayPal CEO: India's UPI is its platform's first onboard payments system partner - The Economic Times
Economic Times
·
4m ago
Medial
PayPal has partnered with India's Unified Payments Interface (UPI) as the first payments system integrated into the PayPal World platform, according to CEO Alex Chriss. This collaboration highlights the strategic significance of UPI in global financial transactions, reflecting a growing trend toward faster and more secure online payment solutions.
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PayPal to create global digital wallet platform with UPI, China's Tenpay - The Economic Times
Economic Times
·
7m ago
Medial
PayPal is launching PayPal World, a platform enabling interoperability between domestic digital wallets and its global network. This initiative allows users of wallets like UPI, Mercado Pago, and Tenpay Global to perform international transactions without creating a PayPal account, enhancing PayPal's global market reach. Merchants can accept payments from these wallets without new technology integration. PayPal World will add more partner wallets and aims to simplify cross-border transactions for consumers and businesses.
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Meet Rahul Patil, the new CTO of AI firm Anthropic - The Economic Times
Economic Times
·
4m ago
Medial
Rahul Patil has been appointed CTO of Anthropic, succeeding cofounder Sam McCandlish, who becomes chief architect. Patil, formerly at Stripe, will focus on Anthropic's engineering, compute, and infrastructure. An engineering graduate from PES University and holding an MBA from the University of Washington, Patil has notable experience at Microsoft, Amazon, Oracle, and Stripe. Anthropic, valued at $183 billion, raised $13 billion recently, with significant investment interest from Amazon.
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NPCI launches slew of UPI-focused products - The Economic Times
Economic Times
·
4m ago
Medial
The National Payments Corporation of India (NPCI) has introduced several new UPI-focused initiatives, including Aadhaar-based face authentication for UPI PIN management and on-device biometric authentication using smartphones. Additionally, a new cash withdrawal mode via micro ATMs using UPI was launched. These developments aim to enhance user convenience and security. Furthermore, NPCI International Payments partnered with PayPal to integrate UPI on a global platform, enabling payments to international merchants in Indian rupees starting in 2025.
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German banks halts $11.7 billion in PayPal payments on fraud concerns: Report - The Economic Times
Economic Times
·
6m ago
Medial
German banks halted over €10 billion in PayPal payments due to fraud concerns, impacting transactions across Europe. This was triggered by suspicious direct debits detected by banks, leading to a 2% drop in PayPal shares. The issue, which involved disrupted security systems allowing unvetted transactions, has since been resolved. Germany's Savings Banks noted significant impacts, but confirmed normal operation resumption. Regulatory bodies were informed, though no major interventions occurred.
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Regulation, deals and crypto: Fintech themes to watch in 2025
Economic Times
·
1y ago
Medial
In 2025, the fintech industry is expected to recover from a challenging period marked by regulatory scrutiny and funding issues. With potential regulatory relaxations under the new administration, fintech startups anticipate renewed growth, investment, and public offerings. Crypto payments, particularly stablecoins, are likely to gain mainstream traction, spurred by favorable governmental attitudes and international expansion efforts by companies like Stripe and PayPal. Deal activities, acquisitions, and public listings are projected to increase, signaling an optimistic future for fintech.
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PayPal gets RBI nod for facilitating outbound cross-border payments
YourStory
·
9m ago
Medial
PayPal Payments Private Limited, an Indian subsidiary of PayPal Holdings Inc., has received in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator for Cross Border Exports. This regulatory nod enables PayPal to facilitate outbound payments for Indian merchants in global trade under a regulated framework. While PayPal focuses on outbound cross-border payments in India, the competitive landscape is intensifying with similar approvals for other firms like Cashfree Payments and Amazon Pay.
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