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PayPal

PayPal users can now pay with 100+ Cryptocurrencies

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PayPal users can now pay with 100+ Cryptocurrencies

PayPal has just rolled out a major upgrade to its crypto ecosystem, allowing U.S. businesses to accept payments in more than 100 cryptocurrencies—a move that could dramatically reshape how online commerce works. Popular wallets like Coinbase, MetaMask, Binance, and Kraken are supported, giving users a wide range of options. Once a customer completes a purchase, … Read more

Is PayPal in Pakistan? Don’t fall for the rumors – Here’s the truth

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Is PayPal in Pakistan? Don’t fall for the rumors – Here’s the truth

Pakistan’s Special Investment Facilitation Council (SIFC) recently announced a trial initiative to enable PayPal in the country, aiming to boost the digital economy. However, despite the optimistic tone, PayPal remains officially unavailable in Pakistan. The SIFC initiative enables 10,000 freelancers to receive payments through a third-party mediator, not directly through PayPal’s platform. Although officials describe … Read more

PayPal penalized by New York for cybersecurity failures

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PayPal

PayPal has been fined $2 million by New York State’s Department of Financial Services for cybersecurity failures that exposed customers’ Social Security numbers in late 2022. Adrienne Harris, New York’s financial services superintendent, revealed that a probe uncovered lapses in PayPal’s cybersecurity management. The digital payment company failed to employ qualified cybersecurity staff or provide … Read more

Good News for Freelancers regarding PayPal

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PayPal

Caretaker Federal Minister for Information Technology Umar Saif claimed, “Pakistan online freelancers will be able to receive PayPal remittances starting this month through a tri-party arrangement without needing to create a PayPal wallet.” The IT minister shared this in his new message on twitter on Saturday and said, “The goal is to enable them [Pakistani … Read more

PayPal and Stripe to launch in Pakistan soon, confirms IT Minister

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PayPal and Stripe to launch in Pakistan soon, confirms IT Minister

Pakistan expects positive updates on PayPal and Stripe’s arrival soon, says the IT Minister. Pakistan has 1.5 million IT freelancers, the world’s second-largest online workforce. The auction process for the 5G spectrum has been initiated. Caretaker Federal Minister for IT and Telecommunications, Dr. Umar Saif, has announced that Pakistan will receive ‘positive updates’ about the … Read more

PayPal, Stripe Set To Facilitate Pakistan’s Freelance Community

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PayPal, Stripe Set To Facilitate Pakistan's Freelance Community

Pakistan government is actively engaged in discussions with PayPal and Stripe, says officials. The aim is to enable IT professionals and freelancers to efficiently transfer their earnings. Around 27 companies and over 45 start-ups from Pakistan are exhibiting at Gitex. A senior official announced on Monday that the Pakistan government is actively engaged in discussions … Read more

PayPal and Stripe’s Pakistan Arrival Confirmed!

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PayPal and Stripe's Pakistan Arrival Confirmed!

The government has approved a comprehensive project aimed at advancing the IT industry. The project aims to remove obstacles to IT exports and increase them to $10 billion. The professionals will play a role in increasing IT exports by $5 billion. After a meeting with Caretaker Prime Minister Anwaarul Haq Kakar, IT Minister Dr. Umar … Read more

IT Minister Eyes PayPal and Stripe to Boost Pakistan’s IT Exports

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PayPal

Caretaker IT minister wants to introduce PayPal and Stripe in Pakistan. He unveiled a roadmap to achieve $10 billion in annual IT exports. He also plans to launch a government-backed fund of funds for startups. Dr. Umar Saif, the Caretaker Federal Minister for IT and Telecommunication, has expressed his desire to introduce online payment systems … Read more

Intel Chairman Omar Ishrak steps down, Frank Yeary new chairman

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Omar Ishrak Intel

Intel announced that Chairman Omar Ishrak had resigned. Board director Frank Yeary had been named in his place. The chipmaker has increased investments to build chip plants across Europe and the US. Intel Corp (INTC.O) announced on Monday that Chairman Omar Ishrak had resigned and that board director Frank Yeary had been named in his … Read more

PayPal supports cryptocurrency transfers to third-party wallets

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wallets

PayPal Holdings Inc (PYPL.O) said on Tuesday it will now allow users to transfer cryptocurrencies including bitcoin to external wallets. The move comes nearly two years after the fintech giant opened up its platform to digital currencies. The feature will be available to select U.S. users starting on Tuesday and will be rolled out to … Read more

Wall Street slashed PayPal’s stock in half, yet ‘uncertainty’ remains as earnings season approaches

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Wall Street

PayPal Holdings Inc. is still facing ‘uncertainty’ from Wall Street after losing more than half of its value so far this year. In the early days of the COVID-19 crisis, PayPal was a financial darling, as the payment-technology business profited from rapid growth in online commerce as well as consumer stimulus programmes that allowed money … Read more

Twitter’s in-app tipping feature is now available on Android

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Android

After making its “tip jar” feature available to all iOS users over the age of 18, Twitter has now made it available for Android users as well. You can contribute money to the creator’s Cash App, Patreon, Paypal, Bandcamp, and Venmo accounts immediately from within the app if you see a particularly interesting or instructive … Read more

PayPal announces new customer application for cryptocurrency

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PayPal

PayPal publicized that the release of a new application to be a one-stop shop for all of the requirements of the digital payment of the firm’s clients. Dan Schulman, PayPal CEO said earlier the firm’s super application was complete for a rollout in the U.S. As per the release, the new PayPal application will allow … Read more

Sceptics fail to deter companies from entering crypto fray

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BTC

RIYADH: Paypal has completed the first international expansion of its cryptocurrency offering outside the US, Arab News reported. Paypal Crypto is now available to its UK customers allowing them to buy, hold and sell four types of cryptocurrencies. The official account of Paypal UK tweeted: “We are delighted to share that all eligible customers in the UK … Read more

Twitter reportedly working on a Bitcoin tipping feature

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Twitter

Twitter has reportedly launched a Bitcoin tipping in a limited beta release. Twitter users may be able to tip each other using Bitcoin in the near future.

Whereas Twitter is yet to officially publicize the feature, MacRumors has reported that it has been contained within a limited beta release.

Distinctly, mobile developer Alessandro Paluzzi also leaked a picture of what looks like a feature letting users “receive tips in Bitcoin.” The beta release has reportedly been made available to a partial number of users so far.

Bitcoin tipping may be added to the “Tip Jar” service Twitter launched earlier this year. Presently, Tip Jar lets users join their Twitter profiles to payments services like Square’s Cash App, Patreon, PayPal, and Venmo to support content creators.

The Lightning Network, a Layer Two payment protocol based on the Bitcoin blockchain, would be used for the feature, as per the screenshot. Micropayments on Bitcoin are commonly made with Lightning.

It uses state channels to allow quicker Bitcoin payments with lesser fees than the main Bitcoin network. Instead of downloading the full Bitcoin customer bulge, Lightning supports light clients for rapid syncing.

CEO Jack Dorsey, founder of Twitter is known for his interest in Bitcoin. He has defined it as the best entrant for the “native currency” of the Internet in the past.

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PayPal has expanded its cryptocurrency services to UK customers

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PayPal

Customers in the United Kingdom can now use the cryptocurrency services of PayPal. As per the PayPal platform, UK customers can purchase Bitcoin (BTC), ether (ETH), Litecoin (LTC), or Bitcoin cash (BCH) for as low as £1.

The step is the first global growth of its cryptocurrency services. Paypal will remain to utilize regulated crypto company Paxos for its services in the United Kingdom.

The service does not support PayPal business accounts. Clients are also required to verify their ID in order to become qualified for the service.

Head of PayPal’s crypto and blockchain division, Jose Fernandez da Ponte said, “We are committed to continue working closely with regulators in the U.K. and around the world to offer our support and meaningfully contribute to shaping the role digital currencies will play in the future of global finance”.

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Crypto Team is Being Built by PayPal in Ireland as Bitcoin Acceptance Grows

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crypto

At the time when Bitcoin and Ether are gaining popularity, the new hires are required to help PayPal expand its crypto-focused business offering.

PayPal, the global payments company, is hiring for many cryptocurrency-related posts at its Ireland headquarters, highlighting the business’s ambitions in the fast-rising digital asset sector.

PayPal is looking to fill several crypto-focused posts in compliance, anti-money laundering, and business development for its Dublin and Dundalk offices, according to the Dublin-based Irish Independent, one of the country’s most popular news outlets.

PayPal established a specialized crypto and blockchain business unit earlier this year to assist its entrance into cryptocurrencies, which took place in October 2020 with the purchase of Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) by clients in the United States.

The company expanded its offering in March of this year, allowing US clients to pay for products and services with their digital asset holdings.

PayPal said two months later that clients would be able to withdraw their cryptocurrency to third-party wallets.

PayPal’s CEO, Dan Schulman, stated in April that the company’s crypto business has exceeded all expectations in its first six months of existence.

The fast adoption of digital assets like Bitcoin and Ether was accompanied by a tremendous price increase that brought the whole cryptocurrency market to a worth of about $2.6 trillion.

Crypto markets seem to have hit a bottom and are now hiking upwards again, after a significant correction between May and July.

Schulman stated on PayPal’s quarterly earnings call last week that the company’s crypto trading business would be arriving in the UK in the near future. Upgrades to allow for faster payment processing are also in the works, according to him.

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PayPal Teases a Future With “Interesting DeFi Apps”

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PayPal

PayPal provided investors with an update on the progress of its new consumer wallet “super app,” as well as a suggestion that smart contracts could be used for “interesting DeFi applications.”

PayPal may begin to integrate DeFi in the future.

The payments giant revealed details about its new consumer wallet “super app” in development during its Q2 earnings call on Wednesday. According to the company’s president and CEO Dan Schulman, the new wallet will contain high-yield savings, improved bill pay capability, and other crypto possibilities.

PayPal has announced various steps to help integrate cryptocurrencies into its platform in recent months. The company started allowing customers to pay using crypto money at over 29 million retailers in March. Recently, the corporation revealed that cryptocurrency withdrawals to off-site wallets will be possible. PayPal teases additional crypto capabilities in its forthcoming “super app,” but no details have been confirmed.

PayPal’s earnings call, however, revealed that the business is studying decentralized financing in relation to its products, in addition to outlining its new crypto-friendly wallet. Schulman responded when asked how the company plans to expand its engagement with the crypto ecosystem:

“We are clearly thinking about what the next generation of the financial system looks like… How can we use smart contracts more efficiently? How can we digitize assets and open those up to consumers that may not have had access to that before? There are some interesting DeFi applications as well.”

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The Future of Cryptocurrency

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cryptocurrency

Cryptocurrency is a rapidly rising global phenomenon that has a large following in Pakistan. It is a decentralized digital currency based on blockchain technology that is not managed centrally. Furthermore, modern encryption techniques are used to create and administer cryptocurrency, making it more secure. When transactions are recorded in the blockchain, mining takes place. Surprisingly, … Read more

PayPal reports record quarterly profit amid Pandemic

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Pay Pal

Online payments system PayPal Holdings Inc. has reported its strongest first quarter on record and beat profit estimates this week. As per the media reports, PayPal processed a total income of 28,285 billion payments in the first quarter, which is 50 percent higher than the previous year, and added 14.5 million new customers. Chief Executive … Read more

PayPal Blocks Site That Helped Raise Funds For Capitol Riots

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PayPal

PayPal Holding has blocked GiveSendGo, a crowdfunding site after it helped raise funds for people who attended the horrific event that happened when Trump’s supporters clashed against the police at the Capitol.

PayPal also said that it has also closed the account of Ali Alexander, one of the organizers of the gathering.

Online platforms and social media companies are taking action against those who encouraged or were involved in last week’s violence in the U.S. Capitol.

As per Twitter, the micro-blogging since Friday has suspended more than 70,000 accounts that were initially made to share QAnon content after the assault on the Capitol building.

US Protest

US Capitol Hill in Washington, witnessed unprecedented scenes as violent clashes broke out between supporters of sitting President Donald Trump and the police.

The protesters tore down metal barricades at the bottom of the Capitol’s steps and were met by officers in riot gear.

The violence also included the fatal shooting of a woman.

Trump Officially Concedes Defeat In Presidential Election

Earlier, US President Donald Trump had formally conceded defeat to his political rival, Joe Biden, in the presidential election.

According to the details, Donald Trump admitted his defeat in the November 3 presidential election for the first time.

The “formal transfer” was announced by Congress on January 20, after the vote count ended, confirming the victory of President-elect Joe Biden.

It is believed that Donald Trump’s statement of defeat came at a time when a crowd of his supporters stormed the Capitol Hill building and witnessed unprecedented scenes of destruction.

Meanwhile, members of Congress were forced to go into hiding, offices were vandalized and Congress affairs were suspended for six hours.

“Even though I totally disagree with the outcome of the election, and the facts bear me out, nevertheless there will be an orderly transition on January 20th. I have always said we would continue our fight to ensure that only legal votes were counted. While this represents the end of the greatest first term in presidential history, it’s only the beginning of our fight to Make America Great Again!” Donald Trump said in a statement posted on Twitter via his social media director.

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Bitcoin Climbs To All-Time High Of More Than $28,000

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Cryptocurrency

The world’s most famous cryptocurrency, the bitcoin, has crossed the $25,000 mark for the first time and reached a record high of $28,000. The value of the bitcoin crossed $28,000 on Sunday, but on December 28 it dropped slightly to between $26,000 and $27,000. At present, the value of one unit of this world currency, … Read more

Petition filed to bring Amazon, PayPal in Pakistan

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Petition filed to bring Amazon, PayPal in Pakistan

An application has been filed in the Islamabad High Court (IHC) seeking annulment of the non-provision of online business facilities and e-commerce policy in Pakistan. The court has sought a reply from the federal government on the petition filed against the e-commerce policy and also directed the Ministry of Commerce and the Ministry of Information … Read more

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