PayPal Goes Mobile to Lure Customers, Fend Off Competitors
- Product engagement increased to 28 transactions per user
- Company's quarterly sales, profit topped analysts' estimates
PayPal Tops Sales Estimates But Faces Future Challenges
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PayPal Holdings Inc. keeps adding new customers and merchants despite an onslaught of competition from credit-card issuers, startups and smartphone makers looking for a piece of the fast-growing digital payments market.
Chief Executive Officer Dan Schulman said the company’s one-touch mobile payments feature -- which lets shoppers complete transactions on smartphones with the push of a button -- is the key attraction. The performance on mobile helped PayPal on Wednesday post first-quarter sales and profit that were higher than projected.