The post PayPal expands into in-person payments with Apple Wallet integration appeared first on MacDailyNews.

PayPal is stepping up its game in the U.S. payment market. By integrating into Apple Wallet and offering 5% cashback, PayPal is aiming to compete directly with traditional banks and tech giants in the point-of-sale market. This strategic move is part of a broader turnaround plan led by CEO Alex Chriss, who joined PayPal from Intuit last year.

Reuters:
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While PayPal has long dominated online payments and peer-to-peer payments via its Venmo app, it has not pushed consumers to use its products in person.

“E-commerce has obviously been one of the fastest growing areas where people are spending their dollars… but it’s not everything,” Chriss said. “Now consumers can use PayPal for every purchase, everywhere, every time.”

The push into point-of-sales includes 5% cash back for certain products up to $1,000 per month and additional rewards from brands like DoorDash and Sephora.

PayPal will also allow customers to use debit cards with Apple Pay, as users take advantage of mobile wallets and “tap to pay” options.

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MacDailyNews Take: The more the merrier in Apple Wallet! More info about PayPal and Apple Wallet here.

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The post PayPal expands into in-person payments with Apple Wallet integration appeared first on MacDailyNews.

The post PayPal expands into in-person payments with Apple Wallet integration appeared first on MacDailyNews.

PayPal is stepping up its game in the U.S. payment market. By integrating into Apple Wallet and offering 5% cashback, PayPal is aiming to compete directly with traditional banks and tech giants in the point-of-sale market. This strategic move is part of a broader turnaround plan led by CEO Alex Chriss, who joined PayPal from Intuit last year.

Reuters:
‎

While PayPal has long dominated online payments and peer-to-peer payments via its Venmo app, it has not pushed consumers to use its products in person.

“E-commerce has obviously been one of the fastest growing areas where people are spending their dollars… but it’s not everything,” Chriss said. “Now consumers can use PayPal for every purchase, everywhere, every time.”

The push into point-of-sales includes 5% cash back for certain products up to $1,000 per month and additional rewards from brands like DoorDash and Sephora.

PayPal will also allow customers to use debit cards with Apple Pay, as users take advantage of mobile wallets and “tap to pay” options.

‎
MacDailyNews Take: The more the merrier in Apple Wallet! More info about PayPal and Apple Wallet here.

‎
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

The post PayPal expands into in-person payments with Apple Wallet integration appeared first on MacDailyNews.

The post Apple shutters Apple Pay Later appeared first on MacDailyNews.

In a retreat from efforts to offer more financial services in-house, Apple is shutting down its Apple Pay Later program, which let customers make purchases on an installment plan. Apple Pay Later was only ever made available in America.

Mark Gurman for Bloomberg News:
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The company said Monday that it’s no longer offering loans for Apple Pay Later, which allowed users to pay off purchases of as much as $1,000 over four installments. The iPhone maker took the step after announcing that third-party services — such as ones from Affirm Holdings Inc. and Citigroup Inc. — would be integrated into its upcoming iOS 18 software.

“Starting later this year, users across the globe will be able to access installment loans offered through credit and debit cards, as well as lenders, when checking out with Apple Pay,” a spokesperson said in a statement. “With the introduction of this new global installment loan offering, we will no longer offer Apple Pay Later in the US.”

The new services in iOS 18 will be available globally through the company’s Apple Pay platform. And users with open loans will continue to be able to manage them within the Wallet app, Apple said.

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MacDailyNews Take: Good news for PayPal, Cash App, Affirm et al.

If you can’t pay cash, you can’t afford it. Wealthy people invest first and spend the proceeds. Broke people spend first and have nothing left to invest.
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The post Apple shutters Apple Pay Later appeared first on MacDailyNews.

The post Tap to Pay on iPhone now available for Venmo and PayPal Zettle users in the U.S. appeared first on MacDailyNews.

PayPal on Thursday announced that Tap to Pay on iPhone is now available for all Venmo business profile and PayPal Zettle users in the U.S., enabling them to accept contactless card and digital wallet payments directly on their iPhones with no additional cost or hardware. This is the latest development in PayPal’s ongoing efforts to help small businesses sell more, grow their business, and manage their finances more efficiently.

Consumers are increasingly going cashless. More than 40 percent of Americans surveyed say that none of their purchases are made with cash in a typical week, and that trend is expected to continue. As a result, accepting card and digital wallet payments in person is increasingly table stakes for small businesses, but until recently, businesses have had to purchase and manage card readers to do so. With Tap to Pay on iPhone, PayPal is helping millions of small businesses adapt to this shift in consumer behavior in a fast, easy, and more affordable way.

“As consumers increasingly turn to non-cash options to pay, small businesses are looking for affordable and flexible ways to offer their customers more payment choice without being tied down to a fixed location,” said Nitin Prabhu, VP, Small Business & Financial Services, PayPal, in a statement. “With Tap to Pay on iPhone, millions of small businesses that use Venmo and PayPal Zettle can now start accepting contactless card and digital wallet payments nearly anywhere, directly on their iPhones, which can expand their customer base and drive incremental sales.”

With Tap to Pay on iPhone, Venmo business profile and PayPal Zettle users in the U.S. can get set up in minutes and begin securely accepting contactless cards and digital wallets directly on their iPhones. They can also add taxes, accept tips, send receipts, and issue refunds. In addition, funds from sales will settle quickly into a business’s Venmo or PayPal Zettle account, helping to streamline operations and manage cash flow.

Tap to Pay on iPhone will also enable Venmo business profile users to dramatically expand their customer base and accept payments from buyers even if the buyer doesn’t have a Venmo account. They can also manage both their Venmo and card payment transactions directly within the Venmo app.

Small business owners can get set up in just a few simple steps and start accepting contactless cards and digital wallets through their Venmo business profile or through PayPal Zettle.

MacDailyNews Take: Learn more about Tap to Pay on iPhone for Venmo business profile users and Tap to Pay on iPhone for PayPal Zettle users.
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The post Tap to Pay on iPhone now available for Venmo and PayPal Zettle users in the U.S. appeared first on MacDailyNews.