Unlocking New Possibilities: PayPal's Next Move Amidst EU's DMA Rollout
Hey FinTech Fanatic!
PayPal is developing a fresh consumer application for its mobile users, hinting at its readiness to leverage the upcoming EU legislation, the Digital Markets Act (DMA), set to be implemented next month.
This regulation primarily targets major tech companies, including Apple, by designating them as "gatekeepers." A crucial aspect of the DMA for PayPal involves the opportunity for third-party applications to utilize the Near Field Communication (NFC) technology, which is the backbone of Apple Pay, for their mobile wallets.
Additionally, the new rules will allow iPhone users the flexibility to choose an alternative mobile wallet as their default option.
During its fourth-quarter earnings call, PayPal remained tight-lipped about its strategy regarding Apple's adherence to the DMA and its specific implications for PayPal.
You can find the highlights and stats from PayPal's Q4 and Full 2023 Earnings in a nice overview below in this email in the Payments section.
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M&A
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