Posted by Sheila Shayon on September 30, 2014 11:01 AM
PayPal is splitting from parent eBay and will become a separate, publicly traded company next year.
In the announcement, eBay said the board made the decision as the best path for growth and shareholder value creation for each business going forward—and already, eBay shares jumped more than 11 percent in pre-market trading.
In tandem with the news, Dan Schulman was named the new president of PayPal, joining the company from president of the enterprise growth group at American Express and previous roles at AT&T, Priceline and Virgin Mobile. eBay veteran Devin Wenig becomes CEO of the new eBay, replacing current president and CEO John Donahoe.
While the companies already operate fairly independently, the move will free each entity to grow and thrive—assuming all goes to plan.
"As independent companies, eBay and PayPal will enjoy added flexibility to pursue new market and partnership opportunities," stated Donahoe, who will serve on both company’s boards going forward. "And we are confident following a thorough assessment of the relationships between eBay and PayPal that operating agreements can maintain synergies going forward."Continue reading...
Posted by Dale Buss on September 30, 2014 09:23 AM
EBay will spin off PayPal in 2015, and names new president in Dan Schulman.
Ford cuts forecast as Russian woes mount and Europe remains a drag but sets high 2020 sales goal, and brings new aluminum F-150 to dealers and consumers for test drives.
Microsoft will unveil next version of Windows today, and readies NYC flagship store.
Pfizer targets Viagra advertising at women for the first time.
Supervalu and Albertsons disclose US customer-data breach.
MORE BRAND NEWS
Apple gets European warning on tax-motivated deal.
BMW tests automated driving in China with Baidu.
Dave & Buster's sets terms for IPO.
Dos Equis creates immersive Halloween "Masquerade" experience.
FTC raps lingerie-makers over caffeine-infused claims.
GM outlines goals and strategies this week as CEO Barra promises to get tough.Continue reading...
Posted by Dale Buss on September 24, 2014 09:21 AM
Coca-Cola, PepsiCo and other soda makers vow to cut calorie consumption by 20 percent in ten years.
Home Depot sees fraudulent transactions surface in wake of data breach.
Walmart begins offering low-cost checking in bid to take on banks.
Clorox, subject of takeover chatter, doesn't plan to mimic P&G, as Colgate-Palmolive sparks takeover speculation and Pfizer held takeover talks seeking tax inversion.
Apple pitches "privacy" of new iPhones as users report bending issue and iOS 8 app crashing, as company acquires Prss digital magazine startup.
MORE BRAND NEWS
Air France quits low-cost Transavia unit.
Amazon tops customer-experience study and launches #AmazonWishList on Twitter while keeping unions at bay in Germany.
Beer?! joins the one-word app brigade.
Benjamin Moore partners with the CFDA to promote fashion designers.Continue reading...
Posted by Dale Buss on September 23, 2014 09:09 AM
Apple releases new iPhone 6 TV commercials amid speculation regarding its plans for the Beats Music service.
NFL names a female CMO in PepsiCo veteran Dawn Hudson.
Karl Lagerfeld creates his own newspaper, Karl Daily, in content marketing move.
Philips spins off lighting business in corporate breakup to focus on fastergrowing healthcare markets, especially in Asia.
Omnicom forms CRM alliance with Salesforce.com and launches Instagram ads in the UK with Starbucks, Cadbury and others as CFO steps down.
MORE BRAND NEWS
Air France pilots vote to extend strike.
Atlantic City announces redevelopment plan as Revel casino group pulls plug on branded property.
AT&T and Chernin Group's Otter Media acquires Fullscreen YouTube multichannel network.
BMW hopes for high-tech halo with i8-focused campaign.
Baskin-Robbins survives frozen yogurt.
Betty Crocker cookbook app woos new generation of chefs.Continue reading...
Posted by Sheila Shayon on September 17, 2014 04:12 PM
With the first reviews of Apple's new iPhone 6 and 6 Plus making their rounds, the discussions around what many have deemed the most lack-luster announcement—Apple Pay—are only getting louder.
While PayPal, Amazon and Google are all making hay of Apple's payment platform, other mobile wallet brands aren't sitting on their hands. Softcard, formerly known as Isis and backed by Verizon, T-Mobile and AT&T in the US, just struck a major deal with Subway restaurants to launch NFC payments across the US. Consumers at any of Subway's 26,000 US locations can now tap their phone to pay for their order.
That won't be the case for consumers using Apple Pay, though, as Apple is restricting its NFC-enabled chip to only be compatible with the iPhone 6 iterations and Apple Watch. The company has also closed off access to its NFC technology to app developers, unlike Samsung's range of NFC-enabled devices that can make use of several NFC apps.
But while Apple Pay may be a bit restrictive, the upcoming platform is making competitors nervous about a potential Apple domination of the mobile wallet space.Continue reading...
Posted by Dale Buss on September 17, 2014 09:35 AM
General Mills sees profits drop 25 percent on decline in US sales.
Subway deploys mobile payments to all 26,000 US locations in partnership with Softcard, the mobile wallet formerly known as Isis.
Sony warns of $2 billion loss and trims mobile unit.
NFL lobbied to meet with women's activists as sponsors face protests and weigh pulling out, and the Minnesota Vikings switch course and bar Adrian Peterson. (Update: Nike has dropped its sponsorship of Peterson.)
Scotland's looming independence vote prompts Richard Branson and other business leaders to make contingency plans.
MORE BRAND NEWS
Absolut licenses Andy Warhol images for holiday campaign.
Adobe helps bring 3D-printed shoe to life.
Airbus sells some defense businesses.
Allstate hosts college-football Twitter challenge.
ALS Association tries to avoid pitfalls after monetary success of Ice Bucket Challenge.Continue reading...
Posted by Dale Buss on September 9, 2014 09:09 AM
Apple launch today of new iPhone (starring U2) is biggest test yet for CEO Tim Cook.
General Mills buys Annie's organic foods brand.
Home Depot confirms major data breach that could rival Target's breach.
Jimmy Choo plans $1 billion IPO.
McDonald's August sales slump as US decline reaches fourth month.
MORE BRAND NEWS
AbbVie and other drug makers are sued by FTC for delaying generic competition of testosterone-replacement drugs.
Amazon slashes price of Fire smartphone.
Baltimore Ravens fires player Ray Rice after domestic-violence video surfaces, and NFL suspends him indefinitely.
Coach names new president and COO.
Dave & Buster's Entertainment files for second IPO attempt in three years.Continue reading...
Posted by Sheila Shayon on July 31, 2014 11:18 AM
eBay, the parent company of PayPal, is rebranding the online transaction service's Bill Me Later function to PayPal Credit, bringing consumer lending to the central part of the brand as it blows out the service globally.
It’s part of the company’s evolution to become a more integral part of commerce. The changes signal a strategic shift to “bring credit more to the center of PayPal,” said PayPal’s VP of Credit, Steve Allocca, according to TechCrunch. “[Credit is] especially important to us as we look to expand into the offline world and omni-channel. It’s going to be all the more important for us to have more levers to proactively manage and control our transaction expense.”
Allocca said customer spend rises by 30 percent after adoption of a PayPal credit vehicle and the recent changes support future goals of the brand to compete in retail POS as well as on mobile. Bill Me Later will cycle payments monthly through PayPal Wallet instead of the current website, minimizing steps between PayPal and Bill Me Later.
Meanwhile, PayPal is also expanding its small business lending program, PayPal Working Capital, which is still in invite-only beta. Since September of last year, the program has loaned more than 20,000 businesses upwards of $150 million from PayPal and lending partner, WebBank.Continue reading...