The stock fared better later in the month after Amazon.com Inc. AMZN, -5.04% announced that it was finally beginning the rollout of a Venmo payment option on its U.S. e-commerce site. PayPal first teased the partnership last fall.
Both items, at the very least, won’t have affected PayPal’s latest results, since they occurred after the third quarter wrapped. And they may not end up financially impacting the company too much on a longer time horizon either.
Jefferies analyst Trevor Williams wrote shortly after the “Delete PayPal” controversy that the scale of social-media activity didn’t indicate PayPal was likely to suffer “any noticeable impact on net new active accounts” as a result of the backlash.
Continue reading PayPal’s ‘once beloved story’ is ‘back in vogue’ despite some noise on MarketWatch
Do you have a complaint about PayPal or Venmo, such as locked accounts or funds seized for unspecified Acceptable Use Policy violations? Take your claim to FairShake, the consumer advocacy service.