Payments Leaders Hope New Behavior Sticks

Payments leaders PayPal and Square have both found the current crisis to be a challenge and a boost to their businesses; after an initial drop in volumes both companies saw a jump in usage; the diversity of both businesses has helped them to perform better overall; PayPal says they are accelerating production on their in-store contactless payments system and Square was able to launch a curbside pickup feature which offset some of the drop in terminal usage; both companies saw their stock prices rebound after proving they could weather the storm; the longer term outlook is still uncertain as both companies hope some of the new behaviors stick and digital payments take on a larger role. The Wall Street Journal

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