PYPL US (Buy, TP: $80, +28%) PayPal Initiation - BUY: Life in the Fast Lane
Almost nine months in, new CEO Alex Chriss is looking to pivot PayPal to value (from price) and better leverage its unique two-sided (consumer/merchant) advantages it has over competitors such as Adyen, Stripe and even Apple Pay. The first evidence of this is Braintree’s more rational approach to pricing contract renewals – good for all in the market. Next we Deep dive into Fastlane, a new guest checkout; we look at how this can lift unbranded volume (first) and pricing (to follow). Other areas of better monetisation can follow over the next 6-12 months: Venmo (deposit capture), broader debit card adoption and Xoom, PayPal’s generally forgotten cross-border currency business (we comp with WISE).PayPal Holdings is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. The company's combined payment solutions include its PayPal, PayPal Credit, Braintree, Venmo, Xoom and iZettle products and services. PayPal's payment solutions enable the company's customers to send and receive payments. PayPal helps merchants and consumers connect, transact, and complete payments, whether they are online, on a mobile device, in an app, or in person. The company provides proprietary payment solutions accepted by merchants that enable the completion of payments on the company's Payments Platform on behalf of its customers.
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