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Is PayPal Becoming Visa’s Best Frenemy?

May 25, 2016

Via: TheStreet

Friend or foe?

To Visa (V) CEO Charles Scharf, electronic payments firm PayPal (PYPL)  is an enemy. In this growing digital marketplace, estimated to be at $8 trillion by 2020, the two companies compete for consumers who are buying products on mobile, tablets, or online.

“If you are a foe, you’re not a friend,” Scharf said Monday at a technology and media conference organized by JPMorgan Chase. Visa is looking for partners to expand its network, while part of PayPal’s current business model is encouraging users to take money for payments directly from their bank accounts rather than using debit or credit cards.

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