Scalper1 News
In a bid to capture even more of the world’s digital wallet, the company has announced the first overseas expansion of its PayPal ( PYPL ) Credit business — essentially lending money to consumers at checkout. The move, announced Wednesday, will add pressure in the United Kingdom (where the feature was rolled out) to other payments options — such as Amazon.com ( AMZN ) and its offering. PayPal Credit will offer 0% interest during the first four months for purchase amounts of 150 British pounds and higher, afterward subject to the standard variable interest rate, which is 17.9% at publication time. Limits will depend on each person’s credit, which will take about 10 minutes. PayPal also faces competitive pressures from relatively new entrants into the digital wallet sector, Google with its Android Pay, and Apple ( AAPL ) Pay. Google is a unit of Alphabet ( GOOGL ). PayPal stock fell a fraction to 38.64 on the stock market today . The stock is finding support at its 50-day moving average, a positive move just when the stock needed one. Volume, though, has been lackluster as shares bounce back. The stock is still below a potential buy point. The company has an IBD Composite Rating of 93, where 99 is the highest. The U.K. is PayPal’s second largest market outside of the U.S., according to Mashable , which notes that of nearly 180 million active customer accounts, 22 million are located in the United Kingdom. The program began in 2014 as a pilot with limited availability. The marketing messaging the company is using — “ the future of money ” — is consistent with its global advertising push after its spinoff from eBay ( EBAY ) in 2015. Thus far the campaign has included the firm’s first-ever Super Bowl ad. Scalper1 News
Scalper1 News