Fintech

Gabrielle Rabinovitch will serve as interim Chief Financial Officer upon Rainey's departure

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the departure of John Rainey PayPal's Chief Financial Officer (CFO) and executive vice president, Global Customer Operations. After almost seven years at PayPal, Rainey is leaving the company to join Walmart Inc. as its CFO. To support an orderly transition, Rainey will remain at PayPal until late May.

PayPal's Board of Directors has launched a formal search process to identify Rainey's permanent replacement. PayPal's Board of Directors has approved the appointment of Gabrielle Rabinovitch , senior vice president, Corporate Finance and Investor Relations, as interim CFO effective upon Rainey's departure. The Global Customer Operations team will join the Risk, Legal and Customer Operations organization led by Executive Vice President Aaron Karczmer .

"On behalf of everyone at PayPal, I'd like to express my gratitude to John for his outstanding leadership, selfless partnership and financial stewardship. John has been an instrumental contributor to PayPal's growth by helping lay the solid foundation that supports the company's innovation, global presence and financial strength," said Dan Schulman , president and CEO, PayPal. "We're not surprised that one of the world's top brands has recognized John and his contributions to building PayPal into one of the most innovative technology and financial services companies in the world. We are thrilled for him and we wish him all the best in his next chapter."

"I am immensely proud of our achievements since I joined PayPal almost seven years ago," said Rainey. "It has been an honor to work with Dan and the PayPal leadership team and so many exceptionally talented individuals as we grew and transformed the company into a true leader in the digital era. I am leaving knowing PayPal is well positioned for the future. Gabrielle Rabinovitch is an extremely well-respected and accomplished colleague, and she has my full confidence to assume the CFO role as the Board conducts its search."

About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 425 million consumer and merchant accounts in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

Investor Relations Contacts
Gabrielle Rabinovitch
grabinovitch@paypal.com

Ryan Wallace
ryanwallace@paypal.com

Media Relations Contacts
Amanda Miller
amandacmiller@paypal.com

Josh Criscoe
jcriscoe@paypal.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/paypal-announces-departure-of-chief-financial-officer-john-rainey-301524253.html

SOURCE PayPal Holdings, Inc.

News Provided by PR Newswire via QuoteMedia

PYPL

PayPal Acquires TIO Networks

Core Innovation Capital and the Center for Financial Services Innovation has announced that their portfolio company has been acquired by PayPal (NASDAQ:PYPL).
As quoted in the press release:

CFSI, the nation’s authority on financial health, made an early investment in TIO Networks in 2005. Core, a venture capital firm investing in leading financial technology companies, invested in TIO in 2013 as part of their mandate to create value for everyday and underserved Americans.
TIO is a cloud-based multi-channel bill payment processor that has processed over $7 billion in payments in 2016 for its 14 million customers. The company delivers convenient access to secure bill pay via kiosk, walk-in, mobile and web solutions.
“Our exceptional financial return is further enhanced by the fact that TIO is one of the most impactful fintechs in the industry, now becoming part of PayPal,” said Arjan Schütte, founder and managing partner of Core.
“PayPal’s acquisition of TIO represents one of CFSI’s greatest impacts to date,” said Jennifer Tescher, founder and CEO of CFSI. “In TIO, we made an early investment that helped a strong innovator become a financial health champion, and the company has built an incredible business around a real consumer pain point, shaped it, and demonstrated that it can be done profitably. Under the larger umbrella of PayPal, TIO should scale even further to benefit more Americans.”
Seventy-nine percent of TIO’s customers are low-to-moderate income, of which a majority pays their bills by giving cash to a teller at a convenience or other retail location. One of the reasons both CFSI and Core invested is that these bills, when expedited, can be extremely expensive. When Core invested in 2013, TIO saved its customers $192 per year on walk-in bill pay charges, relative to the most common alternatives in the market. This translates to an aggregate savings of $290 million in that year alone. TIO is one of the most impactful companies in Core’s portfolio in terms of number of customers served and ratio of underserved customers.

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CEO of Bitcoin Wall Provider Xapo Joins PayPal's Board of Directors

CEO of bitcoin waller provider Xapo has joined PayPal (NASDAQ:PYPL) as a new board member.
Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member.
 
According to an article on Fortune:

Wences Casares, CEO of bitcoin wallet provider Xapo, is the payments giant’s newest board member. Payments giant PayPal announced a new board member this morning, potentially signaling the company’s openness to cryptocurrencies. Wences Casares, CEO of bitcoin wallet provider Xapo, joined PayPal’s board and is part of the company’s compensation committee.
Dan Schulman, president and CEO of PayPal PYPL 2.49% , said of the entrepreneur: “Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.”

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TIMIA Capital Announces First Quarter 2022 Financial Results

TIMIA Capital Announces First Quarter 2022 Financial Results

~ TIMIA delivers significant Q1 revenue growth with further growth planned~

Timia Capital Corporation (" TIMIA " or the " Company ") (TSXV: TCA) (OTCQB: TIMCF), a leading innovator in specialty private credit, is pleased to report consolidated interim financial results for the first quarter ended March 31, 2022 . All figures are reported in Canadian dollars unless otherwise noted.

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Intuit Reports Third Quarter Results and Raises Full Year Revenue and Operating Income Guidance

Organic online ecosystem revenue grew 31 percent

TurboTax Live revenue expected to grow approximately 30 percent to $1 billion in fiscal 2022

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PayPal Announces Expiration and Results of Debt Tender Offer

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the expiration and results of its previously announced offer to purchase for cash any and all of the company's outstanding notes listed in the table below (collectively, the "Notes"). Each reference to an "Offer" herein refers to the applicable offer to purchase for cash the 2.200% Senior Notes due September 2022 (the "2022 Notes") or the 1.350% Senior Notes due June 2023 (the "2023 Notes"), as applicable.

The Offer was made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 16, 2022 (as amended or supplemented from time to time, the "Offer to Purchase"), and its accompanying notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Tender Offer Documents"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

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PayPal Announces Pricing of Debt Tender Offer

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the pricing of its previously announced offer to purchase for cash any and all of the company's outstanding notes listed in the table below (collectively, the "Notes"). Each reference to an "Offer" herein refers to the applicable offer to purchase for cash the 2.200% Senior Notes due September 2022 (the "2022 Notes") or the 1.350% Senior Notes due June 2023 (the "2023 Notes"), as applicable.

The Offer was made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 16, 2022 (as may be amended or supplemented from time to time, the "Offer to Purchase"), and its accompanying notice of guaranteed delivery (the "Notice of Guaranteed Delivery" and, together with the Offer to Purchase, the "Tender Offer Documents"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

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IMG Announces Programming for MADE x PayPal, a Two-Day Event Curated By Public School Celebrating Fashion, Culture and Community in New York City

MADE x PayPal will take place June 24 and 25 at St. Ann's Warehouse in Brooklyn Bridge Park and showcase a wide array of emerging and diverse talent across fashion, music and the arts

MADE x PayPal announces its programming schedule for the two-day fashion experience taking place June 24-25, 2022 at St. Ann's Warehouse in Brooklyn Bridge Park in New York City . Curated by Dao-Yi Chow and Maxwell Osborne of Public School , MADE x PayPal will bring the NYC community together to celebrate a diverse group of emerging creatives and local small businesses. Highlights include fashion shows, performances, DJ sets and special appearances by Nas, Parris Goebel Heron Preston, among others. Elsa Majimbo will serve as MADE x PayPal's official correspondent. MADE x PayPal, produced by IMG FOCUS ., will be open to the public, and guests can register for free tickets on the event website at Ma.de .

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FIS is Building the Bridge to the Metaverse: Tips for the New Digital Frontier

Key facts

  • At its annual FIS Emerald client event, FIS launched its metastore allowing attendees to get hands on experience with transactions in the metaverse.
  • Initiative supports FIS' leadership role in creating the bridge from physical to digital which includes working with cryptocurrency exchanges and all forms of money movement technology to enable shopping and other transactions.

The metaverse is opening a new frontier of opportunities in the digital economy. As a financial technology leader, FIS ® (NYSE: FIS) is creating a bridge from physical to digital and looking to enhance customer experience for businesses that are innovating in this nascent market.

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