PayPal's Doubling Down On New Products

Adam Levy, The Motley Fool

September 24, 2020 at 11:09 AM·4 min read

Online payments giant PayPal (NASDAQ: PYPL) is seeing a surge in new accounts and engagement amid the COVID-19 pandemic, and it's doing everything it can to capitalize on the moment. During its second-quarter earnings call in late July, PayPal CFO John Rainey shared plans to invest an additional $300 million in new products and improvements in the second half of the year. CEO Dan Schulman says he expects the number of product releases in the second half of 2020 to equal the number of new products released in the previous six years of his tenure at PayPal.

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