Today In Payments: PayPal To Bring Pay Later To Venmo; Jack Ma Tells Regulators Ant Group Not A Bank

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In today’s top news, PayPal announced third-quarter earnings and new BNPL services, and Ant Group’s IPO has been suspended. Plus, Amazon and Apple are each poised to hit $100 billion in revenue in the fourth quarter.

PayPal to Bring Pay Later to Venmo

It was another quarter of record-breaking results for PayPal, which saw both record transactions and new customer enrollments in Q3. The company’s recent investments — particularly its expansion into cryptocurrency and buy now, pay later (BNPL) financing — were of particular interest to analysts during the Q&A segment of the earnings call.

Ant IPO Postponed by Shanghai Stock Exchange

The Shanghai Stock Exchange is reportedly delaying Ant Group’s record initial public offering (IPO) following Jack Ma’s meeting with Chinese regulators, during which he said Ant Group was a tech company, not a bank.

Amazon, Apple Headed for $100B Q4

The 2020 holiday season could be a record-breaker for Amazon and Apple, both of which stand to report over $100 billion in revenue for the fourth quarter if predictions are accurate.

NerdWallet Acquires SMB Finance Platform Fundera

NerdWallet, a website providing financial guidance to individuals, has acquired small to medium-sized business (SMB) resource Fundera. The acquisition gives it a bigger piece of the SMB market by expanding its options for financial guidance and financing options for SMB owners.

The Subscription Two-Step: Adweek Flexes to Keep Subscribers for the Long Haul

Digital media companies that can’t provide high-quality content and flexible subscription plans risk seeing customers hit ‘cancel’ Jeff Litvack, CEO and senior editor of Adweek, says — and explains how strategically leveraging paywalls keep subscribers signed on for the long haul.

B2B Payments Deep Dive Shows Paper Checks Have An Expiration Date

One month. Dozens of panels. October was B2B Payments month on PYMNTS TV, with 50 experts across the sector sharing their views through interviews and roundtables. Here’s a recap of what they expect for 2021 and beyond.

Pinterest Gains Advertisers as It Competes With Other Social Networks

In a time of chaos and turmoil, social media sharing platform Pinterest is winning new advertisers who are drawn to it as a haven of safety and positivity.

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