2020 was a transformative year for PayPal (NASDAQ:PYPL). A surge in online commerce led to a record number of new users, more than 72 million, and a substantial increase in total payment volume. On top of that, PayPal introduced key new products like cryptocurrency investing, QR codes, and the option to buy now and pay later.
“We released more products and services in 2020 than in any previous year, and we will step up that pace in 2021,” CEO Dan Schulman said on the company’s fourth-quarter earnings call. Here are five products the company has planned for 2021 and what it all means for investors.
PayPal launched its cryptocurrency investing service in October last year, and management says it’s seen excellent traction so far. This year, the company will expand the ability to buy, sell, and hold cryptocurrency to new international markets and increase the number of investment