PayPal

Business • Economy
PayPal announces launch of cryptocurrency service
PayPal announces launch of cryptocurrency service
Credit: unsplash.com / Dmitry Demidko

PayPal has announced that cryptocurrencies such as bitcoin will in the future be supported by their services and will enable users to buy, hold and sell digital currencies through their platform.

PayPal President and CEO Dan Schulman has stated that "our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange".

Technology • Internet & Web
PayPal introduces annual fee for inactive users in some countries
PayPal introduces annual fee for inactive users in some countries
Credit: Courtesy of PayPal

With new usage guidelines coming into force on December 16 inactive users will be forced to pay a inactivity fee that will only be deducted from existing credit on the respective accounts.

If the available amount is not sufficient, then only the remaining credit is used up. Linked payment sources such as accounts or credit cards will not be accessed. The penalty will be twelve euros and it is not clear in which countries it will be introduced.

Regional News • Americas • United States
Starbucks, Coca-Cola, Twitter among companies to pledge to give employees time off to vote
Starbucks, Coca-Cola, Twitter among companies to pledge to give employees time off to vote
Credit: unsplash.com/visuals

Hundreds of US companies have pledged to give employees time off to participate in elections. PayPal CEO Dan Schulman previously said that "no American should have to choose between earning a paycheck and voting."

Starbucks, Twitter, Uber and Coca-Cola, have said that employees would get election day off, while Starbucks employees are giving a flexible workday to either vote or volunteer at polling places. Apple employees are getting four hours off.

As of now, 700 companies have joined the nonpartisan coalition "Time to Vote", an initiative that formed ahead of the 2018 elections, and around 600 companies have signed on ElectionDay.org to either give employees time off or distribute information on voting.