PayPal Holdings Inc (NASDAQ:PYPL) and Fiserv Inc (NASDAQ:FISV) collaborated to help gig economy workers directly remit their paychecks via PayPal or Venmo wallet, CNBC reports.
- The arrangement will also serve insurance, gaming, and other B2C transactions.
- The over 400 million active accounts on the PayPal and Venmo platforms will offer companies a fast, easy, and cost-effective way to send money.
- Lyft Inc (NASDAQ:LYFT), State Farm, and FanDuel are current Fiserv customers that have immediate access to the technology.
- Separately, PayPal abolished late fee charges for payments miss on buy now, pay later products globally.
- Price Action: FISV shares traded higher by 1.42% at $114.53 on the last check Wednesday.
