SAN JOSE, Calif.—PayPal is eyeing life beyond the checkout button.
In the coming months, the firm is planning to debut a bevy of new services, which could include high-yield savings accounts, check-cashing services, and stock-investing capabilities, according to a new Bloomberg analysis.
It’s all being done in the hopes of PayPal becoming the world’s next “super app,” akin to China’s Alipay or WeChat, India’s Paytm, or Singapore’s Grab, Bloomberg reported.
“The stakes are high: If PayPal pulls it off, the company could become a bigger part of U.S. consumers’ lives than Amazon, Google, or Facebook. But, in the U.S., there is no shortage of banking giants and technology firms that have tried and failed to accomplish what PayPal wants to do,” Bloomberg said.