Founded in 1998, PayPal still plays a key role in payment through web and mobile payment systems, which is why it has acquired many companies. PayPal was initially started as a security software company called “Confinity”, then became an independent money transfer service company called PayPal. What is PayPal? PayPal is well known for its significant partnerships with various companies in a variety of industries. In recent months, PayPal has effectively turned from the popular social media service into an e-commerce platform by creating an “Instagram payment” feature. However, in 2021 there are more news and updates waiting for us from this huge Service company that in this short article, we will write about it.
News in 2021
In some cases this year, Paypal is one of the active services in the world. Just in January, Paypal announced the new investment in TaxBit and participation in the Paycheck Protection Program (PPP); Both mentioned updates are in the line with users ease and comfort. However it should be said that Paypal in the beginning of February, unveiled the full year report 2020 and showed the progress of the service in last year especially in Covid-19 circumstances.
Additionally, in last month, PayPal has entered into multi-year partnerships with CodeHouse, INROADS and the National Association of Black Accountants to develop and hire Black and diverse talent and also the company joins Uber in Coalition to Address Barriers to COVID-19 Vaccine Equity. As we can see, Paypal is not just in the way of updating the services, but also trying to help users in these hard times.
Upcoming Paypal’s Plans
In 2021, according to company’s officials, Paypal will have 5 main goals that from the beginning of the year they are working on and improving the services. These goals start with “Investing”; in this category, Paypal is behind their competitors however the new plans by the company will make investment for users easier than before. The main second goal is to add “Crypto” as a funding source for payments and not just for the buying process.
The third and forth goals are in the line with updating services and make life easier for users; Paypal is planning to “Enhance bill Pay” and improve the “Budget and service tools.” The last goal is actually more faithful to the covenant that company made in 2019; This year finally Paypal will add “Honey’s Shopping Tools” to the services that it provides to the users. Is PayPal Safe? Read here.
With reviewing the upcoming news and updates from Paypal, we can understand that the competition of the money and payment services is in a very important moment; The new type of currencies, like Bitcoin, made the life of these services harder. So now for survivors and to keep the users and followers, Paypal needs to improve and update services as much as possible for the company and for the users.