Banks want in on digital wallets — and the consumer data that comes with them

Jan 23, 2023
Seven banks, including Wells Fargo and Capital One, are launching a competitor to services like Apple Pay and PayPal later this year.
Banks are slated to unveil a new digital wallet later this year, aimed at competing with services like Apple Pay.
Duane Prokop/Getty Images for MasterCard

The IRS delays a tax-reporting rule for peer-to-peer apps. Freelancers are relieved.

Jan 17, 2023
Peer-to-peer apps have become a lifeline for small businesses. But many formerly under-the-table cash transactions now leave a digital trail. 
Small businesses that use peer-to-peer payment services like Cash App or Venmo and take in more than $600 will receive a 1099 form starting next year.
Anna Webber/Getty Images for Afterpay

Cash: Who needs it? Britons mull over the potential disappearance of physical money

Sep 15, 2022
Digital payment methods may render notes and coins obsolete in the United Kingdom and turn it into a cashless economy.
As many as 8 million Britons are thought to depend on physical money because they don’t have an internet connection, a smartphone or digital skills.
Daniel Leal/AFP via Getty Images

IRS tells payment apps to report business transactions over $600

Jan 7, 2022
The threshold used to be much higher.
As the number of self-employed workers expands, the IRS is requiring online payment platforms like PayPal to report transactions greater than $600. The threshold used to be $20,000.
Eric Piermont/AFP via Getty Images

P2P payment apps are booming, thanks to the pandemic

Mar 15, 2021
It can feel safer to send money with a mobile peer-to-peer app. Usage is expected to keep growing after the economy recovers.
Consumers are using peer-to-peer apps for investing and other purposes beyond receiving payments.
PayPal

It’s getting a lot easier to pay in installments

Sep 11, 2020
Easy-to-use services that let shoppers pay in installments are growing in popularity. They can make online shopping more affordable, but they can also get consumers into trouble.
Shopify, as well as other online selling platforms, helped millions of merchants create their online sites to continue to sell goods throughout the pandemic. But since more people are getting vaccinated, how will Shopify remain relevant once people are back to brick and mortar stores?
Filadendron/Getty Images

PayPal makes huge bet on deal-hungry shoppers

Nov 21, 2019
The purchase of Honey Science Corp. for about $4 billion will provide customer behavior insights earlier in the shopping process.
The PayPal headquarters in San Jose, California, in 2018.
Justin Sullivan/Getty Images

For public good, not for profit.

STR/AFP/Getty Images
Dan Schulman, left, the CEO of PayPal, on stage with Marketplace Morning Report host David Brancaccio at the 2018 Aspen Ideas Festival.
Michael Lipkin/Marketplace

Are we trading security for emojis on Venmo?

The Federal Trade Commission found the app's security and privacy protections disclosures lacking.
Stephen Lam/Getty Images

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