- PayPal has announced it is to invest an additional US$300 million in new products and improvements as it seeks to capitalize on the massive growth of ecommerce
- The new investments, announced by PayPal CFO John Rainey after their second quarter results, follow a huge surge in new users. Following the impact of Covid-19 and the resulting lockdown, more people and businesses turning to online payment has seen the company deal with a huge influx of usage
- PayPal’s aim of having 1 billion users transacting through the site every day has been boosted by this recent rise in usage. The company has been expanding to new ways for users to pay, as it seeks to entice in as many users as possible
Source : https://www.fool.com/investing/2020/09/24/paypal-doubling-down-on-new-products/
