PayPal has announced new capabilities that allow for international person-to-person payments in 30 countries with Siri; PayPal's Siri iPhone users can direct international payments to individuals using voice activated prompts; the solution evolved from Apple's iOS 10 operating system; the new offering is part of a focus by PayPal on mobile, a category that reported a 56% growth rate in the third quarter of 2016. Source
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PayPal's fourth quarter earnings release revealed a number of interesting developments for the company; the firm has been steadily growing its partnerships with e-commerce businesses which has helped increase the number of payment transactions per customer; in the fourth quarter PayPal reported 31.1 transactions per active customer which was an increase from 30.2 in the previous quarter and 27.5 in the comparable quarter; PayPal's CEO Dan Schulman has also discussed a new partnership with Amazon that would allow Amazon customers to pay for purchases with PayPal which would further support increases in its customer account activity. Source
PayPal CEO Dan Schulman is committed to helping support and promote financial inclusion by democratizing financial services and making banking activities more broadly available to everyone; the company is well positioned to support this initiative with more than six billion transactions occurring on its platform annually; Schulman provides some metrics around the benefits of digital transactions noting that the typical underserved population spends 10% of its disposable income on unnecessary fees and interest rates and with technology the cost of basic transactions can be lowered by as much as 80% to 90%.
