The payments pioneer is discontinuing a program through which app users could post fundraising drives, often for personal needs
Paypal CEO Alex Chriss, who was appointed last year, has been seeking to streamline the company’s business. He has said previously that the effort might include eliminating some services or divesting others to focus on priorities.
The PayPal fundraisers have been akin to options offered by the website GoFundMe, another website that lets users showcase their own needs.
The PayPal fundraisers were a way for app users to ask for money that might help them overcome a personal hardship. For instance, one recent fundraiser post asked for support under the heading “'Teenage driving SUV hit me on my motorcycle doing 50 mph.”
PayPal app users have been able to make their fundraisers public and promote them on PayPal, paying a fee to do so. Or they could post them for a limited, select group of people free of charge.
PayPal’s fundraiser tool differs from the company’s other giving options that will remain, including an expansion of services through a partnership with the social media Meta that began in September.
By Lynne Marek on Oct 18, 2024
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