PayPal COO Responds to Company's Break-Up with eBay

PayPal posted better-than-expected results, but news that eBay is abandoning the company in favor of a smaller European competitor caused the stock to fall. Bill Ready, COO of PayPal, joined us to explain why he thinks investors are misunderstanding the news. Ready says PayPal will retain a majority of eBay’s volume with the deal it did for PayPal branded checkout. He also said the primary part of PayPal's business was actually expanded with eBay. Ready added that investors may be getting it wrong because this kind of news takes time to digest. EBay explained that its decision to integrate Adyen's payment processor would result in lower costs and more control for its merchants. Ready responded by highlighting all the long-term partnerships the company has with Airbnb, Facebook, Google, Apple, and Uber. Venmo has been a solid source of growth for PayPal, processing $10.4 billion in payments in just the fourth quarter. Ready said that now more than 2 million retailers are able to accept payments from Venmo. Many people have said Apple Pay Cash is going to be a Venmo-killer. Ready said the rush of competitors into the digital payments space hasn't stopped Venmo's business from accelerating.

More In Business

Pope urges news agencies to stand as bulwark against lies, manipulation and post-truths

Pope Leo XIV has encouraged international news agencies to stand firm as a bulwark against the “ancient art of lying” and manipulation.

A list of this year’s Nobel Prize winners

The award of the Nobel Peace Prize to Venezuelan opposition leader María Corina Machado has brought this week’s Nobel announcements to a conclusion.

Big Business This Week: Are Oracle’s profit margins getting squeezed?

When stocks in one sector suddenly start jumping, and investors and industry players are pouring in hundreds of billions, is there a bubble?

Shutdown in the Skies: How Air Traffic Control Is Feeling the Turbulence

Skift airline reporter Meghna Maharishi breaks down how the government shutdown is hitting air traffic control—and what it means for travelers and flight safety

Behind the Boom: Aya Kantorovich on Bitcoin Highs, ETFs, and Institutional Crypto

Aya Kantorovich, Co-CEO of August Digital, breaks down Bitcoin’s surge, crypto ETFs, institutional investment trends, and the future of safer crypto access.

Why AI “actress” Tilly Norwood is no threat to Hollywood

Tilly Norwood, the AI “actress” that has tinsel town talking, is nothing to fear.

Fed minutes: Most officials supported further rate cuts as worries about jobs rose

Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.

How 'The Life of a Showgirl' Shattered Sales Records

Sinead O’Sullivan breaks down Taylor Swift’s genius marketing for The Life of a Showgirl, which just set the record for most albums sold in a single week.

Markets, Mayhem, and the Fed: What Q4 Could Bring

Markets are emerging from a turbulent Q3. Horizon’s Mike Dickson shares insights on interest rates, small caps, and where investors should look in Q4 and beyond

The Dubai chocolate craze is now about much more than bars

Some flavor crazes flirt with us and fade. Others stay and make themselves at home.

Load More