Slower sales growth also weighed on the stock but "new products and services can provide a second wind to growth as the year progresses."
"While it is still early, our [Venmo] monetization efforts appear to be reaching a tipping point," PayPal CEO Dan Schulman says.
The startup's co-founders spun a "web of lies" to deceive investors into participating in its initial coin offering, according to an SEC lawsuit.
The enhancement to Apple Pay will compete with PayPal's Venmo, a leader in the growing peer-to-peer payments market.
A Federal Reserve survey shows debit cards led the way in electronic payment growth between 2012 and 2015, increasing 7.1% by number annually.
Mobile payments, virtual credit cards, a faster ACH system, bitcoin — new payments technologies have CFOs re-evaluating their strategies.
Capping fees on card transactions has not worked out as planned.
The consumer data theft at retailer Target cost banks a few hundred dollars per debit and credit card, says the American Bankers Association.
