PayPal 2018Q3 net profit of 436 million US dollars, and American Express “shake and talk”

According to media reports, October 18, the payment service provider PayPal reported the third quarter of 2018 earnings.

The report shows that PayPal’s total revenue for the third quarter was $3.683 billion, an increase of 14%;Net profit of $436 million, an increase of 15% yoy.

PayPal’s third-quarter net profit was $436 million, up 6% from $380 million in the same period last year;
Earnings per share were $0.36, up 17% from $0.31 in the same period last year.

The California State San Jose-based payment company has struggled in recent years to expand the reach of its new customers through partnerships and acquisitions, especially in mobile payments.

PayPal also announced strategic partnerships with American express and Walmart. In the partnership with American Express, two companies will work closely together, PayPal can visit American Express tokens, and achieve a deep integration of PayPal capabilities with the American Express platform, providing a range of solutions for mutual customers, including PayPal shopping with member rewards points and an integrated point-to-point payment experience.

Worldwide, American express is the fourth largest card organization after unionpay, VISA and MasterCard.

It comes in April, when four big credit card companies, including American Express, jointly launched an online payment button to confront PayPal head-on. This “handshake and peace” between PayPal and American express originated from the fact that American express’s receipt business was greatly affected by mobile payment, it is foreseeable that PayPal’s mobile payment advantage will become more and more obvious.

In October 2018, PayPal announced a partnership with Wal-Mart to provide PayPal and payment services at Wal-Mart retail stores. With the PayPal mobile app, customers can load and withdraw money from PayPal balances in all Wal-Mart stores in the United States.

PayPal said the new partnership with American Express and Wal-Mart would increase the value it provides to customers.