PayPal holdings, which is represented on the Nasdaq as PYPL, the same name PayPal chose as an independent company in the 1990’s, saw its shares rise dramatically.
PayPal’s shares jumped by 11 per cent once the company went public, raising the firm’s total value to around $52bn.
The payments company saw its shares skyrocket to $42.55 in early trading, up from Friday’s close of $38.35 when the shares were trading on a ‘‘when issued’’ basis.
Former parent company eBay took a hit on the exchange, as its stock fell as much as 4.7 percent, valuing the company at about $32 billion.
‘‘We’re the most trusted and popular digital wallet with 169 million people across the globe who depend on us,’’ said Dan Schulman, CEO of PayPal before ringing Nasdaq’s opening bell.
This is not the first time that PayPal has gone public. In 2002 the global payment service went public on the Nasdaq. In the same year eBay acquired the company for $1.5bn.
‘‘Last year we processed $235bn in payments and over 4 billion transactions. This is a historic and exciting moment for PayPal and our investors.’’
Now that PayPal has become independent, rumours are circulating as to what Schulman’s next move will be. According to multiple sources, PayPal is looking to partner with some of the world’s biggest e-commerce companies, including Amazon and Alibaba.
Nine out of ten consumers use their smartphones more than any other device, and consumers would also prefer to use biometrics over PINs - with fingerprints being the preferred method, according to a new Mastercard survey.
It's banks, not government agencies, that the British people trust to deliver biometric authentication payment services, says a new Visa study.
With less than two weeks to go until the US liability shift hits its first anniversary, MasterCard published new data evidencing the positive impact the technology is having on issuing banks, merchants and consumers, as well as saying adoption continues to grow.
Three years since the public consultation, and a year since the £20 was revealed to be the next note to have a makeover, 13th September marks the day that the new £5 polymer bank note enters into circulation.