It seems like everything is peachy at PayPal, and Wall St. is happy with how the payments firm is performing, with news on Thursday that PayPal shares hit an all time high price of $65.63 on the NASDAQ. So what is going on at PayPal to inspire such confidence in its stock?
The first thing to note is that the PayPal and eBay divorce was a success and that unshackled PayPal and gave it a great deal more freedom to make deals and diversify away from the marketplace business. Most eBay users won’t have noticed any particular change in their everyday dealings, but PayPal is now enjoying much broader horizons.
And don’t forget too that PayPal has a number of very well regarded and profitable sub-brands on its books that many people won’t even know they own. Braintree is a powerhouse of innovation and invention that exists within the PayPal stable that powers a number of payments products. And then there’s Venmo: a hugely popular payments service that’s especially familiar and popular with millennials stateside in particular.
And don’t forget too that in the past year that there have also been deals made and partnerships struck with Facebook, Baidu, and Citi too.
All of these developments set the scene for a decent boost to the Paypal stock price over the past year and more. But the real filip that has proved critical to the all-time-high price in PayPal shares this week is the further development of PayPal’s increasingly close relationship with MasterCard.
In August, Mastercard introduced a new PayPal Cashback credit card in the USA. And this week PayPal and Mastercard announced that they have expanded their partnership to include more services on a larger global scale in Canada, Europe, Latin America, the Caribbean, the Middle East, and Africa.
PayPal Chief Commercial Officer Gary Marino said: “Together we expect to accelerate digital payment adoption across the world, improve the payment experience online, in-app and in store, and empower millions of consumers to seamlessly manage and move their money.”
PayPal is doing very nicely.
One Response
Maybe Paypal will take over Ebay and buy them out!!!
Couldn’t do any worse than the current bunch of clowns and Paypal seem to know the way to success, unlike Wenig.
Come on Wenig, put out another of those dumbass videos, so we can all have a laugh…
First Wenig: ‘On your last trip, did you discover what the Earth people eat?’
Second Wenig (holding up a potato in his metal claw): ‘They eat a great many of these.’ [Other Wenigs mutter to each other]
‘They peel them with their metal knives…’ [More muttering] ‘… boil them for twenty of their minutes…’ [Muttering gives way to audible laughter] ‘…then they smash them all to bits.’ [full-on shoulder-shaking laughter]
‘They are clearly a most primitive people.’ [Wenigs roll around, waving their appendages in the air]