Latest numbers from PayPal & its Super App focus 📲; FTX buys crypto exchange Liquid to further build digital asset trading powerhouse 🤯; A VC fund for Gen Z? 🤔

Good Morning FinTech, February 3

Good day Everyone,

And happy Thursday! I hope your week has been productive thus far. To make sure you’re making the most of your days, here’s a mix of 3 great FinTech stories I’ve prepared for you today:

Latest numbers from PayPal & its Super App focus 📲

Earnings call 📞 Payments giant PayPal has posted its Q4 earnings. Its shares fell more than 17% after hours on Tuesday after reporting mixed results and Q1 guidance that fell below analyst estimates.

Here’s more to that 👉 PayPal’s total payment volume (TPV) increased 23% year over year (YoY) in Q4, in line with Q3’s 24% YoY growth, according to PayPal’s earnings release. TPV growth though slowed from Q4 2020, when it grew 36% YoY.

Moreover, the firm added 9.M accounts in Q4, 3.2M of which stemmed from its Paidy acquisition in September. Transactions per active account - which PayPal uses as a metric for engagement - grew 11% YoY, in line with Q3’s performance.

The eBay effect 👀 Overviewing the results, PayPal has outlined some factors that contributed to a softer end to the quarter:

• Omicron variant in December and inflation contributed to the weaker user spending.

• The migration of eBay’s business also hit PayPal’s metrics. One can remember that last June, eBay began managing its own seller payments, which were previously handled by PayPal. CEO Dan Schulman said the migration happened faster than anticipated.

What’s next for PayPal? It should be centered around Super App: