Latest news with #Xoom
Business Wire
16 hours ago
- Business
- Business Wire
Fiserv and PayPal Expand Partnership to Advance Stablecoin Payments
SAN JOSE, Calif. & MILWAUKEE--(BUSINESS WIRE)--Fiserv, Inc. (NYSE: FI) and PayPal Holdings, Inc. (NASDAQ: PYPL), today announced that they are partnering to build future interoperability between FIUSD and PayPal USD (PYUSD), to allow consumers and businesses to move funds domestically and internationally. Combining the global reach of Fiserv and PayPal across banking, consumer, and merchant payments, interoperability will allow both firms to further expand the use of stablecoins and programmable payments around the globe. 'Our expanded relationship with PayPal furthers our mission to scale stablecoin-powered payments—leveraging our position at the intersection of banking and commerce to build more efficiency and optionality into the payments ecosystem,' said Takis Georgakopoulos, COO at Fiserv. 'Businesses around the globe face common problems. They don't receive funds fast enough, they are combating inflation, and many face currency value fluctuations. Blockchain-based technology solves many of these challenges by enabling faster transfers, at any time of day, nearly anywhere around the globe,' said Frank Keller, Executive Vice President at PayPal. 'Together with Fiserv, we will help bridge the gap between traditional financial systems and new technologies, enabling faster, more cost-effective, and globally accessible payment options for merchants.' The two companies will strive to identify key opportunities for integrating FIUSD and PYUSD into payment flows, including cross-border transactions, payouts, and merchant solutions. The partnership underscores both companies' commitment to driving innovation in the financial services industry and empowering businesses and consumers with cutting-edge payment technologies. Today, Fiserv announced it will develop and launch FIUSD, a bank-friendly stablecoin which will enable financial institutions of all sizes to offer next-generation banking solutions to their consumer and commercial clients. Launched in 2023, PYUSD has been successfully used to fund investments in startups, fund cross-border transfers via Xoom, and reconcile vendor invoices. IMPORTANT DISCLOSURES This press release is for informational purposes only and is not intended as financial, investment, or other advice. The use and exchange of digital assets, including stablecoins such as PYUSD, may involve complex risks, including but not limited to: Network & Custody Risks: Transactions on blockchains – and the blockchains themselves – are subject to a range of operational, technological, and security risks. Users are responsible for safeguarding their private keys and/or working with reputable custodians/wallet providers; loss of access may lead to the permanent loss of funds. Third-Party Reliance: Digital assets rely on third-party blockchain software and network infrastructure. Neither PayPal nor Paxos Trust Company, LLC ('Paxos') has control over blockchain networks and is not liable for any blockchain's performance, security, or ongoing availability. Redemption and Market Risk of Fiat-Backed Stablecoins: U.S. dollar- backed stablecoins that are regulated by the New York State Department of Financial Services, are designed to maintain a stable value of one U.S. dollar per token. Individuals or entities with direct redemption access via PayPal, Paxos or authorized partners are guaranteed to convert PYUSD 1:1 for US dollars. All other parties may be limited to selling PYUSD at market prices. Regulatory Uncertainty: Regulatory frameworks for digital assets are evolving. Availability or legality of digital asset services may change without notice, and services may be restricted, suspended, or terminated in certain jurisdictions as required by law or regulation. No FDIC/SIPC Protection: Digital assets, including PYUSD, are not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC). Terms & Conditions: Use of PYUSD is subject to Paxos and PayPal's Terms & Conditions, including disclaimers on liability and user responsibilities. Transactions are irreversible once recorded on the blockchain. You are advised to review and understand all applicable terms. Service Availability & Illegal Activity: PYUSD and related payment services may be suspended or terminated due to events or investigations involving illegal activity, system failure, or other factors beyond PayPal's control. Forward-Looking Statements: Statements in this press release regarding potential product features, expansion plans, and regulatory outcomes are forward-looking and subject to change. Actual results may differ materially due to known and unknown risks, uncertainties, and other factors. About PayPal USD (PYUSD) PayPal USD is issued by Paxos Trust Company, LLC, a fully chartered limited purpose trust company. Paxos is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD. PayPal, Inc. (NMLS ID #: 910457) is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. About Fiserv Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World's Most Admired Companies™. FI-G
Yahoo
23-04-2025
- Business
- Yahoo
Buy. Hold. Earn Rewards. PayPal Unlocks Rewards for Holding PayPal USD
Users to receive 3.7% annually in PayPal USD (PYUSD) for holding the stablecoin on PayPal or Venmo SAN JOSE, Calif., April 23, 2025 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today introduced rewards for PYUSD1, a new loyalty offering that will provide US users the ability to earn 3.7%2 annually in rewards on holdings of PayPal USD (PYUSD) in their PayPal or Venmo wallets. Available in Summer 2025, PayPal and Venmo3 users will be able to earn rewards on their PYUSD balances, which they can use to pay at millions of merchants, send directly to PayPal and Venmo users, fund remittances on Xoom without transaction fees, convert 1:1 to their fiat balance, convert to other cryptocurrencies, and send onchain to supported wallets on the Ethereum and Solana blockchains. "At PayPal, we believe stablecoins have the power to reshape the future of commerce as the foundation for the next generation of payments. Combining this innovative technology with our expansive global network allows us to help all users thrive in the world economy," said Alex Chriss, President and CEO, PayPal. "Consumers and businesses use PYUSD today for commerce, crypto, peer-to-peer transfers and B2B payments. We're demonstrating our commitment to an innovative, commerce-ready ecosystem by enabling it for the settlement of cross border transfers, vendor payments and in the future for additional payment use cases like payouts and bill pay." Users will receive 3.7% annually2 in PYUSD on their PYUSD holdings on PayPal or Venmo. Users can immediately use any rewards received to send to other users, fund international transfers, exchange for fiat, or make purchases at millions of merchants with PayPal Checkout. Highlights of the offering include: Commerce-Ready: All PYUSD – purchased and received - can be used seamlessly to fund payments within the PayPal and Venmo ecosystems. Consumers can buy, send, and spend PYUSD both domestically and internationally – giving users additional flexibility and choice in how they use it. Accrue Rewards Daily, Receive Rewards Monthly: 3.7% annual rewards rate2, awarded out in PYUSD the following month and added directly to the user's Cryptocurrencies Hub. Users can opt into or opt out of the program at any time and redeem their PYUSD holdings for USD quickly and easily in their PayPal or Venmo Cryptocurrencies Hub. 1 Rewards for PYUSD may not be available to New York State-based users at launch.2 Anticipated rate upon program launch. The PYUSD rewards rate will be determined at all times in PayPal's sole discretion and is not guaranteed. PayPal reserves the right to change the PYUSD rewards rate at any time. Program will be subject to terms and conditions available upon launch.3 Only Venmo consumer accounts are eligible to receive rewards. Venmo Teen Accounts and Venmo Business Profile users are not eligible to participate in the program. About PayPal USD (PYUSD)PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company. Paxos and its products – including expansion to new blockchains – are licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD. About PayPalPayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit and PYUSD IS NOT INSURED BY THE FDIC, SIPC, OR ANY OTHER PUBLIC OR PRIVATE INSURER, INCLUDING AGAINST CYBER THEFT OR THEFT BY OTHER MEANS. PAYPAL IS A FINANCIAL TECHNOLOGY COMPANY AND NOT A DEPOSITORY INSTITUTION. PYUSD, THE PYUSD REWARDS PROGRAM, AND YOUR CRYPTOCURRENCIES HUBS ARE NOT BANK DEPOSITS OR OTHER DEPOSIT ACCOUNTS. PAYPAL DOES NOT INTEND FOR PYUSD REWARDS TO CONSTITUTE A SECURITIES OFFERING AND PARTICIPATION IN THE LOYALTY PROGRAM IS NOT AN INVESTMENT IN A SECURITIES OFFERING. PayPal, Inc. (NMLS ID #: 910457) is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Contact: Media Relations, mediarelations@ View original content to download multimedia: SOURCE PayPal Holdings, Inc.
Yahoo
09-04-2025
- Business
- Yahoo
PayPal's Xoom partners with Tenpay Global to offer cross-border remittances to Weixin
New collaboration enables convenient and secure remittances to Weixin Pay users in China SINGAPORE, April 9, 2025 /PRNewswire/ -- Starting today, Weixin Pay users can now receive cross-border transfers from Xoom, a PayPal service and a pioneer in digital remittances. This new partnership between Tenpay Global, Tencent's cross-border payment platform, and Xoom allows Weixin Pay users to receive money directly into their Weixin Pay Wallet Balance or bank accounts linked to Weixin Pay through Xoom or PayPal's mobile app and website. Xoom and PayPal users in United States, Canada and Europe can now access reliable and affordable cross-border money transfers to their own or family members' Weixin Pay accounts, with additional countries to come in the future. Weixin Pay users can receive the funds frictionlessly, typically in as fast as a few minutes, for flexible use within the Weixin app for transfers, top-ups and shopping. "Xoom has long been known as a fast, easy, inexpensive way to send money to friends and family across borders - and now, being able to send funds to Weixin Pay users from the US, Canada and Europe, we're continuing to connect users wherever they might be and for what they might need funds for," said Paul Bances, Vice President of Market Development for Xoom. "This partnership reaffirms Tenpay Global's commitment to not only bridging the Weixin ecosystem with the global markets but also enhancing user value through streamlined and secure cross-border remittances. By addressing everyday needs—from family support to daily expenses—we aim to create meaningful value in our users' lives beyond mere transactions," said Wenhui Yang, CEO of Tenpay Global (Singapore). The service is now live and available through the Xoom and PayPal mobile app. Users may also visit or to start the remittance experience. About Xoom A pioneer in digital remittances, Xoom is a fast and easy way to send money, pay bills and reload phones for friends and family in approximately 160 countries globally. With Xoom, customers can access a fast and reliable way to send money, by simply downloading the Xoom or PayPal mobile app, or visiting or About Tenpay Global Tenpay Global, the cross-border payment platform of Tencent, is the gateway to seamless cross-border payment solutions for businesses and individuals. Tenpay Global offers scenario-based services for different customer groups, including cross-border consumption, cross-border remittances, and cross-border commerce scenarios. Together with global partners, Tenpay Global is committed to bridging the world's payment networks with Weixin's ecosystem in China. SOURCE Tenpay Global Sign in to access your portfolio
