PayPal Inks Deal for Amazon.com Customers to Pay With Venmo
- Deal with e-commerce giant follows EBay’s split with PayPal
- PayPal trims revenue, earnings guidance for current year
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PayPal Holdings Inc. shares surged as much as 6.5% after it inked a deal with Amazon.com Inc., even as the payments giant trimmed its full-year forecast for revenue and profit.
PayPal reached an agreement with Amazon.com to allow the firm’s Venmo wallets in the U.S. to be accepted on the e-commerce giant’s website and mobile app starting next year, according to a statement Monday announcing third-quarter earnings.