Paypal | featured news

Discover makes headway in bringing eBay's online-payments service to physical retailers, but First Data, one of the country's largest merchant processors, has opted not to support the service.

EBay Inc reported holiday quarter results that just beat Wall Street expectations, but the e-commerce company also gave a cautious forecast for 2013. EBay shares climbed 1.7 percent to $53.80 in after-hours trading following the announcement. Expectations were high ahead of the results because sales data from outside sources suggested strong sales growth from eBay's online marketplace and a solid increase in transactions processed by the company's PayPal payments business.

Yahoo has named former PayPal cofounder Max Levchin to its board of directors, as two other board members are stepping down. The addition of Levchin, a well-known Silicon Valley technology executive, is another move towards Marissa Mayer‘s efforts to revamp Yahoo with a technology focus.

TiVo is working with advertisers and agencies to develop PayPal-enabled commercials, allowing people to make instant purchases through interactive ads on their video recorders.

EBay's first-quarter net income grew 20 percent thanks to higher revenue from its PayPal business and brisk sales at its e-commerce websites. The results beat Wall Street's expectations and investors sent the company's stock higher in after-hours trading.

Yahoo Inc. has named Scott Thompson, president of eBay Inc.'s PayPal division, as its new CEO, the fourth one in less than five years for the struggling Internet company.

Hollywood-funded anti-piracy group BREIN says it will pursue a similar strategy to its counterparts in the United States and UK by pressuring payment processors like PayPal to stop doing business with file-sharing sites. But BREIN says the processors must go further. Either they can voluntarily hand over the names of the admins behind the site accounts, or they will go to court and sue them into submission.

Anonymous wants PayPal users to "immediately close their accounts and consider an alternative," as a way of protesting the arrests of 14 people tied to a denial-of-service attack on PayPal's website last December.

U.S. authorities on Tuesday arrested 16 people on charges they participated in major cyber attacks, including an attempt to cripple eBay's PayPal website as retribution for dropping WikiLeaks as a client.

EBay paying $240 million to buy closely held Zong, a provider of mobile payments, as the e-commerce giant seeks to strengthen its PayPal business.