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PayPal Stablecoin (PYUSD) Made Available on Solana Blockchain

The Fintech Times

PayPal USD (PYUSD), PayPal ‘s USD stablecoin, will now be available on the Solana blockchain. “Continued adoption from industry participants like PayPal helps realise the next generation of fintech innovation.” PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company.

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PayPal Waives Check Cashing Fees For Stimulus Checks

PYMNTS

PayPal will allow customers to cash their next stimulus checks free of charge, according to a press release. The payments giant said in the release that the checks will go through instantly on the PayPal app's cash-a-check feature. This can be done from a mobile phone, without the user leaving their home to go to a bank or ATM.

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Strong Venmo and QR Code Payments Growth Help PayPal Score Record Q2 Earnings

PYMNTS

In an earnings season defined by diminished expectations amid the worldwide economic shutdown, PayPal not only beat analysts’ expectations Wednesday (July 29) but enjoyed a record quarter. And the company credited its Venmo peer-to-peer (P2P) payments platform and QR code-based contactless-payments system for a big part of that success. “In

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Venmo, Square Cash Vie For Stimulus Funds Distribution

PYMNTS

Venmo and Cash App want to be considered as ways the U.S. government could deliver its stimulus funds to help the coronavirus-wrecked economy. According to Treasury Secretary Steve Mnuchin, the payments, intended to alleviate fiscal stress during the coronavirus’ mass disturbance of the economy, should be coming within three weeks.

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Venmo Pilots Business Payments For Micro SMBs

PYMNTS

Venmo will introduce a new feature for businesses to accept payments separate from the individual owner’s account, a press release says. are sole proprietors, the release says, and Venmo wants to aid them in the times when the pandemic has shut down many businesses or rendered them inoperable due to the risk of transmitting the coronavirus.

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PayPal Processed More Transactions On May 1 Than On Black Friday

PYMNTS

But many firms and all firms are two different things, and while from a humanitarian perspective PayPal clearly wishes COVID-19 never happened, by the numbers it is undeniable that it has boosted its business. April 2020 was also a record-breaking month for PayPal in terms of enrollment and use. PayPal added 7.4 66 non-GAAP EPS.

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PayPal’s Stablecoin Joins Solana: Impact on Consumers and Banks Explained

Finovate

PayPal’s stablecoin, PayPal USD (PYUSD), was officially added to the Solana Blockchain last week. Now, PayPal stablecoin users can send PYUSD on Ethereum or Solana when transferring out to external wallets. Regulatory scrutiny : PayPal’s move onto Solana may attract further attention from regulators.