PayPal Holdings, IncPYPL has introduced Tap to Pay onApple IncAAPL iPhone for Venmo business profile and PayPal Zettle users in the U.S., allowing users to accept contactless payments directly on their iPhones withoutextra cost or hardware.
This initiative is part of PayPals commitment to helping small businesses expand their sales, grow their operations, and improve their financial management.
With consumers increasing preference for cashless transactions, Tap to Pay on iPhone offers small businesses a quick, easy, and affordable solution to adapt to this change.
Also Read:PayPal Cuts 9% of Staff in Efficiency Drive
Nitin Prabhu, VP at PayPal, emphasizes this services flexibility and convenience to small businesses, enabling them to accept various payment methods anywhere.
This new feature streamlines transaction processes, including tax addition, tipping, receipt sending, and refund issuing, and expedites fund settlement into Venmo or PayPal Zettle accounts.
Additionally, it broadens the customer base for Venmo business profile users by accepting payments from non-Venmo users and managing transactions within the Venmo app.
In February, PayPal reportedfourth-quarter revenueof $8.03 billion, above the consensus of $7.87 billion. EPS of $1.48, beat estimates of $1.36. Total payment volumes increased 15% year-over-year to $409.8 billion in the quarter.
Investors can gain exposure to the stock viaAmplify ETF Trust Amplify Mobile Payments ETFIPAY andGlobal X FinTech ETFFINX .
Price Action:PYPL shares traded higher by 1.55% at $59.02 on the last check Thursday.
Also Read:PayPal Stock Dives After Q4 Earnings: Management Set A Low Bar For 2024, Says Analyst
Disclaimer:This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy of PayPal
2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
“Diplomatic efforts” are under way to settle the row that has erupted between Jeremy Corbyn and Zarah Sultana, Sky News has been told.
A source close to the pair said they were mediating behind the scenes to salvage the future of Your Party following a bitter public spat between the co-leaders.
The new left-wing outfit descended into chaos on Thursday when Mr Corbyn told followers to ignore an “unauthorised” email urging them to become paid members and said he was seeking legal advice.
Ms Sultana admitted to launching the membership portal without the former Labour leader’s sign-off but claimed she did so because she had been “sidelined” by a “sexist boys club”.
The former Labour MP had been sharing the portal on social media all morning and claimed 20,000 people had become members by Thursday afternoon.
With membership fees of £5 a week or £55 a year, that means more than £1m could have been raised before the row broke out.
Mr Corbyn told people to cancel their direct debits but Ms Sultana insisted the portal was a “safe and legitimate” way to pay.
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The matter has now been referred to the Information Commissioner’s Office, who can issue fines up to £17.5m or 4% of global turnover, or pass fraud and negligence cases to police.
A spokesperson for the ICO told Sky News on Friday: “We can confirm we have received a report and are assessing the information provided.”
Image: Jeremy Corbyn and Zarah Sultana. Pic: PA
Timeline of the row
Suspicions were aroused after Ms Sultana started sharing the membership portal on Thursday but Mr Corbyn did not. In one tweet she told followers to ignore “right wing bad faith actors” who are “desperate to claim this link is fake”.
Mr Corbyn then issued a statement claiming the portal was not legitimate.
It said: “This morning, an unauthorised email was sent to all yourparty.uk supporters with details of a supposed membership portal hosted in a new domain name.
“Legal advice is being taken. That email should be ignored by all supporters. If any direct debits have been set up, they should be immediately cancelled.”
The statement was signed by four other independent MPs who were part of the founding process of Your Party – Ayoub Khan, Adnan Hussain, Iqbal Mohamed and Shockat Adam.
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However, it was not signed by Ms Sultana, who quit Labour to launch the new left-wing party with Mr Corbyn in July.
In a statement of her own, the Coventry South MP admitted the portal did not have the “dual authorisation” of herself and Mr Corbyn “which was the agreement made at the start of this process”.
However, she added: “After being sidelined by the MPs named in today’s statement and effectively frozen out of the official accounts, I took the step of launching a membership portal so that supporters could continue to engage and organise.”
She insisted that this was a “safe, secure, legitimate portal for the party”, adding: “My sole motivation has been to safeguard the grassroots involvement that is essential to building this party.
‘Sexist boys club’
“Unfortunately, I have been subjected to what can only be described as a sexist boys’ club: I have been treated appallingly and excluded completely.”
Later that evening, Your Party said it had reported itself to the ICO, the UK’s data protection watchdog.
It claimed that a “false membership system has been unilaterally launched”, with data collected and payments taken.
It also denied Ms Sultana’s claims that she had been excluded from discussions, calling the developments a “blow for everyone who has put their hope in a real alternative”
Sam T, who signed up to the monthly membership, told Sky News he was considering cancelling his membership and “might as well go and give £5 to someone on the street”.
‘Get behind the Greens’
The row is the latest bump in the road for a party yet to officially agree on its name, decide policies, select candidates or hold a conference.
Ms Sultana appeared to blindside Mr Corbyn when she announced the venture in early July. There have also been internal rows about the leadership model as well as clashes over different views on trans rights.
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NATO says it has responded after Russian military jets “violated” Estonian airspace.
In a statement, the Estoniangovernment said the incident involved three Russian MiG-31 fighter jets that flew near Vaindloo Island, in the Gulf of Finland, for a total of 12 minutes without permission.
A NATOspokesperson said the Russianjets “violated Estonian airspace” and “NATO responded immediately and intercepted the Russian aircraft”.
“This is yet another example of reckless Russian behaviour and NATO’s ability to respond.”
Foreign minister Margus Tsahkna said Russiahad already violated Estonian airspace four times this year, “which is unacceptable in itself, but today’s violation, during which three fighter jets entered our airspace, is unprecedentedly brazen”.
“Russia’s ever-increasing testing of borders and aggressiveness must be responded to by rapidly strengthening political and economic pressure,” he added.
Estonia is the third NATOcountry to report an incursion of its airspace by Russia in recent weeks: On Sunday, Romania said a drone breached its airspace during a Russian attack on neighbouring Ukraine.
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The Russian defence ministry did not immediately respond to a request for comment. However, its jets routinely fly over the Baltic Sea, where its Baltic Fleet is based.
While incursions over Vaindloo Island, around 124 miles from Estonia’s capital Tallinn, by Russian aircraft are somewhat common, they do not usually last as long as Friday’s incident.
In response to the latest incident, Foreign Secretary Yvette Cooper said that the UK “stands with our Estonian allies” after what she called “yet another reckless incursion into NATO airspace”.
EU Commission President Ursula von der Leyen also said: “We will respond to every provocation with determination while investing in a stronger Eastern flank.”
She added that “as threats escalate, so too will our pressure”, before calling on European leaders to approve a new round of sanctions which would ban Russian liquified natural gas.
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1:52
Is Russia getting ‘ready for war with NATO’?
Putin ‘testing the West’s resolve’: EU official
Europe’s foreign policy chief Kaja Kallas also said the “violation of Estonia’s airspace by Russian military aircraft is an extremely dangerous provocation”.
She added that the EU “stands in full solidarity with Estonia”, and said: “We will continue to support our member states in strengthening their defences with European resources.
“Putin is testing the West’s resolve. We must not show weakness.”
Estonia’s government said in May that Russia had briefly sent a fighter jet into NATO airspace over the Baltic Sea during an attempt to stop a Russian-bound oil tanker thought to be part of a “shadow fleet” defying Western sanctions on Moscow.
It added that the Russian deputy ambassador was summoned and given a protest note.
The incursion comes after the head of Britain’s foreign intelligence service said there is “absolutely no evidence” that Vladimir Putin wants to negotiate peace in Ukraine.
MI6chief Sir Richard Moore told a news conference on Friday that the Russian president was “stringing us along”.
“He seeks to impose his imperial will by all means at his disposal. But he cannot succeed,” Sir Richard said.
“Bluntly, Putin has bitten off more than he can chew. He thought he was going to win an easy victory. But he – and many others – underestimated the Ukrainians.”
Public firms are raising hundreds of millions in capital for cryptocurrency strategies, reinforcing investor expectations of another historic altcoin market cycle.