PayPal Holdings Inc (NASDAQ: PYPL) has not announced impressive Q2 earnings. However, 143 hedge funds have placed the company in their portfolios. Moreover, they ranked the company 9th among the hedge funds with the 30 most popular stocks.
U.S Justice Department is investigating Visa Inc (NYSE: V) after it offered PayPal incentives
A report from the wall street journal indicated that the U.S. Justice Department had launched investigations into Visa Inc (NYSE: V) after offering financial incentives to PayPal and Square Inc (NYSE: SQ) and Stripe Inc. The move is at per with the agency’s antitrust investigation.
The investigations are to find out if deals made by Visa prevented payment firms from using different money-moving technology and card networks. The Justice Department alleges that Visa convinced PayPal through incentives to encourage people to make payments via Visa-branded cards.
Investigators are also evaluating an arrangement between Square and Visa that allows users to transmit money digitally. When Square was still a startup, Visa partially acquired it. It also lowered Square’s fees for sending performance payments. As a result, the company used Visa for its Cash App Transactions.
Pay Pal announces weekly draw
Following the decision by Apple Inc (NASDAQ: AAPL) to effect a private policy, several tech companies have lost money as they are dependent on the data collected by targeted acts. However, PayPal intends to bring in high-yield savings, crypto-currency services, and more.
The company also recently announced that it was issuing customers the opportunity to win $10,000 each week, as well as other prizes by shopping with the company during the holiday season.
The promotion will run through December 2021, but to its existing consumers in the U.S., France, Germany, and the U.K. Moreover, PayPal’s existing clients in the U.K. have a chance to win cash prizes or rewards every time they check out with the platform or donate to any of PayPal’s support causes. The company will enter customers that spend over $10 on donations or purchases to win prizes that cost between $25 and $250. The lucky winners will be entered into the draw every week leading up to the holiday season.