Powered by

Surge in mobile users boost Paypal's profit

Oct 20, 2017 - City A.M.

PAYMENT processor Paypal Holdings reported a better-thanexpected quarterly profit yesterday, helped by mobile payments volume that more than doubled.

The companys shares were up 3.4 per cent at $69.55 in extended trading.

San Jose, California-based Paypal has been expanding its services to gain advantage over rivals in the digital payments market, particularly in person-to-person payments, where competition has intensified.

Paypal's mobile payments volume jumped 54 per cent to ...