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- PayPal Holdings Inc.’s stock was trading down about 7.5% as of mid-morning Thursday, hours after an announcement from eBay Inc. that the big marketplace will shift transaction processing from long-time provider PayPal to Netherlands-based processor Adyen. EBay’s business accounts for about 13% of PayPal’s volume, a share PayPal said Thursday it expects will decline to about 4% by July 2020, when a five-year operating agreement between the two companies will expire.
- Square Inc., which in November began allowing a limited number of its Square Cash users to buy and sell Bitcoin on the peer-to-peer payment service, has expanded the Bitcoin capability to “most Cash App customers,” according to a tweet from Jack Dorsey, Square’s co-founder and chief executive. The move represents the second expansion of the capability, which began as a pilot and was extended to an undisclosed number of additional users in December.
- The notoriously volatile Bitcoin cryptocurrency shed 22% of its value between Sunday and early Thursday morning, when its price stood at just over $9,400. The dip below $10,000 is the first since Jan 17.
- NACHA, the automated clearing house governing body, said its API Standardization Industry Group and professional-services firm Accenture are working on an online resource for API standardization across payments.
- Payments-security provider Bluefin Payment Systems announced a partnership with EDC Corp. that will enable EDC’s clients to use Bluefin’s encryption service.
- Fraud mitigation company Kount Inc., in conjunction with Chargebacks911, released the 2018 State of Chargebacks Survey.
- Online small-business lender Kabbage said it now offers credit lines up to $250,000.
- A Mercator Advisory Group Inc. CustomerMonitor survey found that 57% of respondents used a person-to-person payments service.
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