PayPal appoints Srini Venkatesan of Walmart as new CTO, effective June 24. He will oversee technology development and implementation across the ecosystem.
PayPal seeks to challenge Amazon and Shopify with Fastlane checkout. Analyst predicts $100-250M revenue boost by FY26 and competitive edge over Apple Pay and Google Pay.
The analyst maintains a Neutral rating on PayPal due to competitive challenges from new services like Tap to Cash and tokenization plans from Apple and Mastercard. Despite sensible moves by PayPal's leadership, the complex competitive landscape may limit its growth and stock performance.