GoKawiil
Tech News
Digital wallets fall into four categories: closed wallets tied to a single merchant, semi-closed wallets usable across a limited network of merchants, open wallets such as Apple Wallet and PayPal that offer broader flexibility, and crypto wallets for digital currencies. Each type serves different purposes, from budgeting within one retailer's ecosystem to making payments across many locations.
The Information reports that Apple and the Justice Department are continuing settlement negotiations in the 2024 antitrust lawsuit, with discussions reportedly centered on iPhone interoperability requirements. PayPal and Epic Games are among the developers who have told DOJ officials they fear any resulting deal could impose only minimal restrictions on Apple's practices.
New data shows U.S. tech sector layoff announcements rose in September, led by cuts at Uber Technologies, PayPal and Microsoft, even as overall U.S. layoff announcements declined for the month. Total tech industry job cuts for the year so far stand at 165,925.
World Wide Words, a language-focused website that has published more than 3,000 articles over three decades covering new words, etymologies, idioms and quirks of English, is asking readers for financial support. The site carries no advertising and instead relies on voluntary PayPal donations to cover its operating costs.
Director Alex Gibney's latest documentary traces Elon Musk's trajectory from dot-com millionaire to a figure wielding outsized influence over US government departments. Spanning nearly four hours, the film chronologically documents Musk's mythmaking around PayPal and Tesla, juxtaposed with footage of an autopilot fatality and interviews including Ashley St Clair calling Musk 'a nuke.' Gibney frames the film around two questions: how Musk amassed such power, and why society allowed it.
PayPal's chief executive is moving forward with an internal restructuring strategy after a proposed $50 billion acquisition of the company failed to materialize. The plan reportedly includes incentives tied to performance, with the CEO eligible for a $25 million bonus if the turnaround convinces investors of its merit.
Stripe and private equity firm Advent International have abandoned a proposed $50 billion takeover offer for PayPal, according to reports. The deal, which would have been one of the largest fintech acquisitions in history, will not proceed.
Stripe and private equity firm Advent have dropped their pursuit of acquiring PayPal, according to people familiar with the matter cited by Bloomberg. The pair had reportedly offered around $53 billion in July when PayPal shares were depressed, but PayPal rejected the bid and was said to be awaiting a higher offer before the talks collapsed.
A GrapheneOS user reports that the PayPal app now fails to launch, throwing a RootDetectionSecurityException citing a security policy violation. The user suspects the crash may be tied to having enabled the PayPal card for contactless NFC payments, though this hasn't been confirmed as the sole trigger.