PayPal has been around and growing in popularity since 1998. With well over 100 million users and more than 7 million businesseshttps://www.homeloans8.com it’s safe to say this payment giant knows what it’s doing. Howeverhttps://www.homeloans8.com there’s been some questions recently as to whether or not the processor is keeping up with the times.
Why? While it’s one of the most trusted brands in ecommercehttps://www.homeloans8.com its fastest growing demographic today is the 50-and-up category. Experts are referring to it as the “legacy solution” – it’s still ahead of its competitorshttps://www.homeloans8.com but beginning to show its age.
Unlike most credit card payment gatewayshttps://www.homeloans8.com PayPal acts as a third party that connects directly with your bank accounts and credit cards. With ever-shifting trends and consumer needshttps://www.homeloans8.com the processor has been forced to venture outside its core competency and compete for customer’s core banking services.
To complicate matters furtherhttps://www.homeloans8.com PayPal’s competitors – like Block (Square) and SoFi – now have U.S. banking licenses; this means they can now directly acquire depositshttps://www.homeloans8.com lend money and issue cards. Meanwhilehttps://www.homeloans8.com Stripe is putting together meaningful services that address the needs of the small business market. Other partnerships have taken place like Fiserv and First Data that can bring …
