Fintech

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced its second quarter 2022 results for the period ended June 30, 2022 . The earnings release and related materials discussing these results can be found on its investor relations website at https:investor.PYPL.comfinancialsquarterly-resultsdefault.aspx .

PayPal Holdings, Inc. will host a conference call to discuss these results at 2:00 p.m. Pacific time ( 5:00 p.m. Eastern time ) today. A live webcast of the conference call will be available at https://investor.pypl.com . In addition, an archive of the webcast will be accessible for 90 days through the same link.

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 429 million consumers and merchants 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: https://www.prnewswire.com/news-releases/paypal-reports-second-quarter-2022-results-301598417.html

SOURCE PayPal Holdings, Inc.

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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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FIS Reports Second Quarter 2022 Results

  • Increased revenue 7% on a GAAP basis and 8% on an organic basis to $3.7 billion
  • Generated Diluted EPS of $0.45 and Adjusted EPS of $1.73
  • Repurchased $300 million in shares
  • After 14 years of distinguished service, James "Woody" Woodall to step down from his position as CFO, effective November 4, 2022, with Deputy CFO Erik Hoag to succeed Mr. Woodall as Corporate Executive Vice President and Chief Financial Officer

FIS ® (NYSE:FIS), a global leader in financial services technology, today reported its second quarter 2022 results.

"I'm very pleased with the strong financial results we delivered this quarter," said Gary Norcross, FIS Chairman and Chief Executive Officer. "These results are a testament to the value we bring to our clients by executing our business strategy, investing for growth and bringing innovative and end-to-end offerings to market. In an uncertain macro environment, the durability of our financial model is also a significant advantage for FIS. We reduced our leverage to 2.9 times, and our robust free cash flow allowed us to return approximately $600 million in capital to shareholders during the second quarter through share repurchase and dividends."

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Fast Company Names FIS to 100 Best Workplaces for Innovators List

Key facts:

  • For the second year in a row, FIS is one of 100 companies recognized on the Fast Company list for fostering innovation.

Financial technology leader FIS ® (NYSE: FIS) announced today that it has been named to Fast Company Magazine's 2022 100 Best Workplaces for Innovators list . This is the second straight year FIS has received this designation.

News Provided by Business Wire via QuoteMedia

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Intuit to Announce Fourth-quarter and Full-year Fiscal 2022 Results on Aug. 23; Investor Day Set for Sept. 29

INTUit Inc. (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, Credit Karma and Mailchimp, will announce its fourth-quarter and full-year financial results for fiscal year 2022 on August 23 following the close of market. The company's fourth quarter ends on July 31.

Intuit executives will discuss the financial results on a conference call at 1:30 p.m. Pacific time on August 23. The conference call can be heard live at http://investors.intuit.com/Events/default.aspx . Prepared remarks for the call will be available on Intuit's website after the call ends.

News Provided by Business Wire via QuoteMedia

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New Venmo Small Business Grant Program to Support Emerging and Small Businesses

Initiative Will Grant Venmo Business Profile Users with Funds and Mentoring to Help Grow Their Business

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the Venmo Small Business Grant a new program for emerging and small businesses that will provide financial grants and mentorship services to 20 new and existing Venmo Business Profile customers. Each of the 20 businesses selected will receive $10,000 that can go towards covering expenses, such as rent, or helping to digitize and promote their businesses.

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Worldpay from FIS Extends Partnership with Chargebacks911 to Help Reduce Chargebacks for Merchants

Key facts

  • Worldpay from FIS is deepening its partnership with Chargebacks911 by introducing a broader range of Disputes Deflector products to merchants.
  • Disputes Deflector will help Worldpay's merchants reduce chargebacks, costs, and lower fraud.

News Provided by Business Wire via QuoteMedia

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Real Matters Reports Third Quarter Financial Results

(all amounts are expressed in millions of U.S. dollars, excluding per share amounts and unless otherwise stated)

Real Matters Inc. (TSX: REAL) ("Real Matters" or the "Company"), a leading network management services platform for the mortgage and insurance industries, today announced its financial results for the third quarter ended June 30, 2022.

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