![]() ![]() Bauch said he would not be surprised to see PayPal try to engage in “some creative M&A” in order to boost growth. Some analysts also have suggested that PayPal could make a play for struggling online brokerage Robinhood, which just announced layoffs Tuesday. ![]() Late last year, there was speculation that PayPal was looking to buy social media firm Pinterest, but PayPal has said no deal is in the works. Its sluggish prospects could push the company to look towards more acquisitions to rejuvenate sales and earnings. Which means PayPal will have to work harder to revitalize user growth. Kahn agreed that Dorsey focusing more on Twitter would be “great for PayPal” but he thinks that is unlikely to happen. “If Dorsey were to become a part-time CEO who was back at Twitter, that could help PayPal and open up the door for them to gain ground,” Vecchio said. Dorsey used to be CEO of both companies and some believe that a distracted Dorsey was good for PayPal. PayPal could benefit, though, if Block CEO Jack Dorsey looks to become more involved with Twitter in the wake of Elon Musk’s acquisition. PayPal and Venmo are in a fierce battle for users with the likes of Block, the parent company of Square and Cash App, as well as Zelle, the fintech owned by a consortium of seven of the country’s top banks, including Bank of America and JPMorgan Chase. That means that consumers may look to make more purchases with credit and debit cards or cash in physical stores and make fewer digital payments for online shopping, said Christopher Vecchio, senior strategist at DailyFX.Īs digital payment rivalry grows, should PayPal do a deal?Ĭompetition is intensifying as well and it’s not helping. Another concern? Consumers are starting to go back to brick and mortar retailers to shop as fears about Covid subside thanks to vaccinations and less lethal - albeit more transmissible - variants of the virus. ![]()
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