Amazon Contributing to PayPal’s Growth
PayPal’s break with eBay in 2015 continues to impact the payment player’s momentum. It’s payment volume from eBay fell 45% in the third quarter from a year earlier as eBay continues to offer additional payment options at check-out. The WSJ reports a new partnership with Amazon will pick up the slack.
Amazon’s addition of PayPal’s Venmo as a payment option will drive significant volume for the payments company. Even though Venmo is one of many payment options, Amazon’s sheer scale stands to accelerate PayPal’s growth.