The president and director in charge of PayPal, Dan Schulman, announced that the payment platform will lay off some 2,000 workers, which represents 7 % of its workforce.

With this measure, PayPal joins the massive wave of layoffs that technology companies have been applying globally, as extreme measures of remodeling and readaptation to the world economic scenario.

PayPal has indicated that the layoffs will materialize in the coming weeks, with which the payroll of the digital payment platform reduces approximately 7 % of its workforce.

Following the trend of Microsoft, Amazon, Google and other technology companies, PayPal seeks to stabilize its finances and adjust costs.

Schulman has noted, “We have more work to do. We must continue to change as our world, our customers, and our competitive landscape evolve.”

M.Pino

Source: libremercado

(Reference image source: Muhammad Asyfaul, Unsplash)

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La entrada PayPal will reduce its workforce by 7 % apareció primero en Bitfinance.

The use of cryptocurrencies as a financial exchange instrument is limited due to the volatility, cost and speed with which transactions are carried out. However, some technology platforms like PayPal are taking up the challenge and have developed instruments that allow them to offer the services of carrying out transactions with different digital currencies.

In this global framework, the online payment giant PayPal announced its new service that will allow customers to buy, hold and sell cryptocurrencies directly from its platform. In addition, its clients will have the opportunity, starting in 2022, to use their cryptocurrencies as a source of financing to cancel their network of 26 million businesses around the world,” which could increase their utility.

For the president and CEO of PayPal, Dan Schulman, the transformation of physical money into digital forms is inescapable, which has implicit some advantages in terms of financial inclusion, access, efficiency, speed and resilience of the payment system, as well as the “Ability of governments to disburse funds to citizens quickly.”

Schulman admits that the organization’s experience in digital payments, its global reach, as well as its two-way network and the security processes and controls it possesses allow it to better understand, exchange, and interoperate these new financial instruments.

Paypal provides new financial tools for Latin America

Federico Gómez Schumacher, PayPal’s chief executive for Latin America, highlights the importance of the Latin American market for the organization. “It is no secret to anyone that Latin America still has a way to go in terms of adopting digital financial tools, as well as reducing the high levels of informality that persist in their economies.”

That is why the company wants to work and increase its presence in the region and thus contribute and help reduce poverty. Likewise, the organization will offer educational content that allows users to understand the cryptographic ecosystem, as well as its risks and opportunities related to investing in digital currencies and everything related to blockchain technology.

On the other hand, cryptocurrencies will become another source of financing within PayPal’s digital wallet, adding another improved utility for cryptocurrency holders. Merchants will not get any additional integrations or fees as all transactions will be settled in fiat currency at their current PayPal rates.

M. Rodríguez

Source: elaragueno.com.ve

La entrada PayPal offers a cryptocurrency purchase and sale service apareció primero en Bitfinance.

The CEO of PayPal, Dan Schulman, announced to his client portfolio the new payment method which is anchored to blockchain technology where users can pay with cryptos such as bitcoin, ethereum, bitcoin cash and litecoin.

“It is the first time that cryptocurrencies can be used without problems in the same way as a credit or debit card within the PayPal wallet,” reported Schulman.

According to the announcement, the company will not allow the transfer of crypto assets between personal accounts, friends or family. However, this advance represents a leap in the adoption of cryptocurrencies, with millions of PayPal users, many young people, with knowledge about bitcoin and the blockchain.

Service coverage

So far it is known that the service will be available only to users in the United States and is expected to be expanded soon throughout the rest of the world.

PayPal has a capacity in its infrastructure suitable to serve the vast network of users that make it up, thanks to the fact that the digital payments giant bought the custody company Curv, which allows it to meet the required demand.

K. Villarroel

Source: bitcoin

La entrada PayPal will receive payments in cryptocurrencies apareció primero en Bitfinance.

By 2021, the renowned digital payments company, PayPal, is expected to exceed the expectations of many with the new proposal called Buy, Hold, and Sell Cryptocurrencies, which intends to double the bet maintained by the company towards cryptocurrencies, blockchain and digital currencies.

Leaving behind its limited cryptocurrency trading service, PayPal CEO Dan Schulman assured that the company is prepared to double its commitment to digital currencies. “The volume of cryptocurrencies traded on our platform far exceeded our expectations,” reported Schulman.

Regarding the acceptance of cryptocurrencies, the executive assured that digital assets will be received “as a financing method when users buy in any of our 29 million stores“, so that by the end of the year they can have a “broad roadmap around cryptocurrencies, blockchain and digital currencies.”

For his part, the CEO reported that the company continues to work hard and actively with regulators and central banks in order to guarantee a future without cash.

The initiative is expected to be extended to “Venmo and selected international markets” in 2021. PayPal also reported that platform users will become more active, generally after purchasing cryptocurrencies.

K.Villarroel

Source: Cointelegraph 

La entrada PayPal is ready to double its bet on crypto apareció primero en Bitfinance.