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Briefing
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- Catering to Unbanked Population – Paypal announced launch of new digital wallet features that will allow unbanked population in U.S. to participate in digital economy
- Enabling Online Shopping – Unveiled Paypal Cash Mastercard, debit card that links to user's Paypal account with no membership fee and minimum balance requirement, enabling shopping in online platforms or retail stores that accept Mastercard
- ATM withdrawals – Allows Cash Mastercard users to withdraw cash from company's bank partners for free, or from banks outside Paypal network for small transaction fee
- Direct Paycheck Deposits – Adds option to deposit any check directly to Paypal account for free
- Developing Market Outreach – Recently partnered with M-Pesa, mobile money service provider in Kenya, to give users ability to link accounts to Paypal platform, allowing them to shop online or outside of country more easily
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Market Disruption
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Sector
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Financial Services
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Organization
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M-Pesa, MasterCard Inc., PayPal Inc.
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Source
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Original Publication Date
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April 9, 2018
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