Payments processor Stripe expresses interest in PayPal

“PayPal has had, obviously, a tough time over the past few years and the landscape has changed quite a bit with Apple Pay and Google Pay and everything like that,” said John Collison, Stripe’s president. Photo by David Paul Morris/BloombergArticle contentPayment processing firm Stripe Inc. is considering an acquisition of all or parts of PayPal Holdings Inc., according to people familiar with the matter.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentStripe, which is closely held and is among the industry’s most valuable companies, has expressed preliminary interest in a potential acquisition of the digital payments pioneer or its assets, the people said, asking not to be identified because the matter is private.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle contentThe deliberations are early and there’s no certainty they’ll lead to a transaction, the people said. Representatives for Stripe and PayPal declined to comment.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentPayPal closed up 6.7 per cent to US$47.01 in New York Tuesday, giving it a market value of US$43.3 billion.Article contentFounded in the late 1990s, PayPal was an early mover in digital payments. It has since struggled with modernizing its payment technologies as rivals such as Apple Inc. and Alphabet Inc. have seized market share.Article contentStripe, founded by brothers Patrick and John Collison, has become one of the industry’s most coveted players. Earlier Tuesday, Stripe announced it had reached a US$159 billion valuation in an employee tender offer.Article content“PayPal has had, obviously, a tough time over the past few years and the landscape has changed quite a bit with Apple Pay and Google Pay and everything like that,” John Collison, Stripe’s president, said in an interview this week. “I can’t talk about any, you know, M&A hypotheticals but they’ve definitely had a tough time.”Article contentPayPal’s current board chair, Enrique Lores, is due to take up his new role as president and chief executive on March 1, replacing Alex Chriss, who was ousted as CEO this month. The company’s fourth-quarter profit and revenue missed analysts’ estimates, according to results for the period that also showed a continued slowdown in payment volume.Article content—With assistance from Paige Smith.Article contentBloomberg.comArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTrending New cross-border U.S. pipeline proposal could revive idle Keystone XL assets: analysts Oil & Gas Posthaste: Canadian dollar is facing a big risk that markets seem to be overlooking News Here's why mortgage renewals may be the banks' biggest rip-off Personal Finance Posthaste: Forget tariffs, here's how Trump is really making money off Canada News Canada's housing market suffers largest price decline among major economies, says BIS Real Estate Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. New cross-border U.S. pipeline proposal could revive idle Keystone XL assets: analysts Oil & Gas Posthaste: Canadian dollar is facing a big risk that markets seem to be overlooking News Here's why mortgage renewals may be the banks' biggest rip-off Personal Finance Posthaste: Forget tariffs, here's how Trump is really making money off Canada News Canada's housing market suffers largest price decline among major economies, says BIS Real Estate