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PayPal reported a revenue growth of 18% to $2.667 billion for the quarter ended September, 2016 (Q3 2016). Its active customer base stands at 192 million, up 11% with growth of 19 million active customer accounts. During the quarter, it processed 1.5 billion transactions processed, up 24% and $87 billion in total payment volume (TPV) up 25%.

“30 payment transactions per active account on a trailing twelve months basis, a 13% increase from a year ago.”, PayPal mentioned in its press release.

Here are some of the notes from the call with analysts:

Partnership with MasterCard:

During the quarter, PayPal announced a deal with MasterCard, similar to the one with Visa last quarter, where its digital wallet will be accepted in all physical retail locations where MasterCard contactless transactions are enabled. In addition, PayPal will gain access to MasterCard’s tokenization services, in the United States, for in-store PayPal transactions.

The agreement gives PayPal certain economic incentives, including incentives for increased MasterCard volume, and greater long-term certainty on fees paid to MasterCard, and removes the threat of any fees or network rules being targeted solely at the company.

Earlier it had been urging customers in the US to use Automated Clearing House (ACH), a network which processes net banking, to load money into their wallets.

Tie up with Alibaba

PayPal is  now a payment option on Alibaba’s global retail marketplace, AliExpress. “This partnership has the potential to drive meaningful cross-border traffic, as PayPal consumers outside of China shop on AliExpress merchants in China,” CEO Dan Schulman said in the call with analysts.

In India, Alipay and Paytm were in a partnership for payments globally. In February, the companies signed an agreement  which would allow Alipay’s global customers from China, Japan, US and the UK buy from Paytm’s merchants and Indian Paytm users to buy from merchants listed on Alipay. Essentially, shoppers in India could buy goods from Chinese and American ecommerce sites which advertized on the ad network and payments could be done through Paytm.

Pull payments

PayPal said that Xoom, its digital remittance service, has now introduced a request feature, which allows remittances to become a two-way interaction between senders and receivers. Remittance recipients in 29 countries can now request funds, bill payments or mobile reloads from customers in the US through the Xoom platform.

Customers can link their PayPal and Xoom accounts, to give customers access to their PayPal funding sources within Xoom. This will allow PayPal’s US customers to send funds to multiple new markets and get access to new services.

In August,the company launched PayPal.me, a digital peer-to-peer payment service aimed at freelancers and small businesses selling products and services across borders in India. Merchants can set their own profiles and get a personalized URL for their business with their existing PayPal accounts.This URL will help merchants to call for a payment without giving out their bank account details and IFSC or SWIFT code. The URL can be shared through any medium and can be used by individuals without any web infrastructure

Note that pull-based payments, where users and merchants can request money, is a highlight of the Unified Payments Interface (UPI). The other strength of the UPI is that users can make payments without giving out their IFSC details and bank account number.

Download: Press release | Transcript

Update: PayPal clarified the numbers on the transactions and has been reflected in the copy.