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MarketScreener Homepage  >  Equities  >  Nasdaq  >  PayPal Holdings, Inc.    PYPL

PAYPAL HOLDINGS, INC.

(PYPL)
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PayPal to Host Cryptocurrency Transactions

10/21/2020 | 08:32am EST

By Dave Sebastian

PayPal Holdings Inc. said it will host cryptocurrency payments.

The digital-payments company on Wednesday said it is debuting its service due to rising interest in digital currencies from central banks and consumers amid the Covid-19 pandemic.

Users would be able to buy, hold and sell cryptocurrency from their PayPal accounts and make purchases at 26 million merchants world-wide, PayPal said. The company's digital wallet will first allow for the transaction of Bitcoin, Ethereum, Bitcoin Cash and Litecoin, it said.

"The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly," PayPal President and Chief Executive Dan Schulman said.

The company, which has gotten a conditional Bitlicense from the New York State Department of Financial Services, said the service will be available in the U.S. in the coming weeks. It also plans to expand the features to its Venmo platform and certain countries in the first half of 2021, PayPal said.

PayPal said it won't charge cryptocurrency transaction costs through the end of the year. It also won't charge fees for holding cryptocurrency in a PayPal account.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

10-21-20 0831ET

Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO -10.80% 14073.285 Real-time Quote.143.54%
ETHEREUM - BITCOIN -1.60% 0.029841 Real-time Quote.73.58%
ETHEREUM - EURO -12.24% 420 Real-time Quote.323.36%
ETHEREUM - UNITED STATES DOLLAR -12.20% 500.375 Real-time Quote.351.41%
LITECOIN (LTC/BTC) -8.04% 0.004033 Real-time Quote.-22.63%
LITECOIN - EURO -17.98% 56.755 Real-time Quote.89.14%
LITECOIN - UNITED STATES DOLLAR -18.00% 67.635 Real-time Quote.100.94%
PAYPAL HOLDINGS, INC. 4.11% 214.46 Delayed Quote.98.26%
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More news
Financials (USD)
Sales 2020 21 420 M - -
Net income 2020 3 396 M - -
Net cash 2020 8 887 M - -
P/E ratio 2020 74,4x
Yield 2020 -
Capitalization 241 B 241 B -
EV / Sales 2020 10,9x
EV / Sales 2021 9,02x
Nbr of Employees 23 200
Free-Float 90,7%
Chart PAYPAL HOLDINGS, INC.
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PayPal Holdings, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends PAYPAL HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 43
Average target price 221,17 $
Last Close Price 214,46 $
Spread / Highest target 25,9%
Spread / Average Target 3,13%
Spread / Lowest Target -42,2%
EPS Revisions
Managers
NameTitle
Daniel H. Schulman President, Chief Executive Officer & Director
John J. Donahoe Chairman
John D. Rainey Chief Financial Officer
Sripada Shivananda Chief Technology Officer & Senior Vice President
John H. Kunze SVP-Global Consumer Product & Technology
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