Bank of America: PayPal's Offline Merchants
In a research report published this morning by Bank of America, eBay's (NASDAQ: EBAY) PayPal has announced several initiatives aiming at offline merchant acceptance.
According to Bank of America, these initiatives include, "1) 15 new national merchants; 2) partnerships with innovative mid-market POS software providers; and 3) partnerships with Verifone/Equinox to integrate PayPal into their terminals (~40mn installed base). This was a step forward toward the goal of deploying PayPal in-store at 20 national retailers by year-end and toward enabling mid-market adoption."
Bank of America maintains its Buy rating and $44 PO on eBay, which closed yesterday at $39.71.
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