Discussions about PayPal on Amazon
The gain will be large
"We've had conversations with Amazon," said
Dan Schulman, CEO of PayPal, in an interview with Bloomberg. "We're
approaching 200 million users on our platform right now. At this level, it's
hard for any retailer to think about not accepting PayPal."
There are no details to announce,
but Schulman said the conversations focused on "how to use each other's
assets to the mutual benefit of our customers.
A Seattle-based Amazon spokeswoman
declined to comment. PayPal stock reduces its decline in trade by about 1.7 percent
on the news.
PayPal separated from eBay,
Amazon's only rival, to focus on expanding its electronic trading business
without being threatened by the slow-growing online market. Schulman, who
became CEO after the split, forged agreements in an effort to increase the
number of people using PayPal and the frequency with which they use it.
Amazon has its own payment
ambitions and has hired Patrick Gauthier of San Jose, California based PayPal
in 2015 to lead its initiative. Amazon is balancing its desire to control
payments with its customer-centric philosophy, given the scope of PayPal.
PayPal said Thursday 197 million active customer accounts in the fourth
quarter, with 31 transactions per account in the last 12 months. Amazon buyers
asked if the company would accept PayPal in Amazon customer discussion forums.
Amazon relaunched its own payment
transactions in 2013 by letting consumers use Amazon accounts to make purchases
with other online merchants.
Amazon.com Inc. and PayPal
Holdings Inc. have discussed letting buyers pay for Amazon purchases using
their PayPal accounts, highlighting how PayPal can attract new partners since
its split of 2015 EBay rival Amazon
"We've had conversations with Amazon," said
Dan Schulman, CEO of PayPal, in an interview with Bloomberg. "We're
approaching 200 million users on our platform right now. At this level, it's
hard for any retailer to think about not accepting PayPal."
There are no details to announce,
but Schulman said the conversations focused on "how to use each other's
assets to the mutual benefit of our customers.
A Seattle-based Amazon spokeswoman
declined to comment. PayPal stock reduces its decline in trade by about 1.7 percent
on the news.
PayPal separated from eBay, Amazon's only responsible
rival, to focus on expanding its electronic trading business without being threatened by the slow-growing online market. Schulman, who became CEO after the split, forged agreements in an effort to increase the number of herd using PayPal and the frequency with which they use it.
Amazon will bring a large audience through paypal
Amazon has its own payment ambitions and has hired Patrick Gauthier of San Jose, California based PayPal in 2015 to lead its initiative. Amazon is balancing its desire to control payments with its customer-centric philosophy, given the scope of PayPal. PayPal said Thursday 197 million active customer accounts in the fourth quarter, with 31 transactions per account in the last 12 months. Amazon buyers asked if the company would accept PayPal in Amazon customer discussion forums.
Amazon relaunched its own payment transactions in 2013 by letting consumers use Amazon accounts to make purchases with other online merchants.
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