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PayPal Isn’t a Bank, But It May Be the New Face of Banking

According to a WSJ article:

"By some measures, PayPal Holdings Inc. holds more customer money than all but 20 U.S. banks. What does that say about the future of banking? At the end of March, customers of PayPal held more than $13 billion in accounts at the online-commerce company. Under U.S. law, PayPal isn’t a bank, and those funds aren’t deposits, but cash that sits without earning interest for consumer s, ready to spend."

Where do you think banking is going?

And more importantly, is it about time?


Anonymous User
Title: CFO
Company: Local Government Agency
(CFO, Local Government Agency) |

Let's wait until after the next fed rate hike to see what happens. Banks may become more popular again. :-)

Trilogy Ltd
Title: Accountancy Services
Company: Trilogy Ltd
(Accountancy Services, Trilogy Ltd) |

Yes, I totally agree with you.
Pay pal is widely used by people all over the world.
But, nowadays other pay pal competitors are also growing.


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