Enova reported $536 MM in originations, compared to $656 MM in Q4 2019. Key Innovations in 2020 – QR Code, BNPL, Crypto Buy/SellĮnova: Despite its acquisition of OnDeck back in October 2020, originations were down 18% YoY. Headwinds from e-Bay slower volumes volume contribution continues to decline, revenues much lower as well.For every $1 of revenue, PayPal generated an impressive 23 cents in FCF #Divvy loans freeFree Cash Flow (FCF) of $5 Bn in FY 2020, up 48% YoY.This is driven by the acceleration in the adoption of contactless payments during COVID TPV in Q4 2020 was $277 Bn, with Venmo’s share at $47 Bn, up 60% YoY. Total Payments Volume (TPV) in FY 2020 was $936 Bn, up 31% YoY.Revenue of $21.5 Bn in FY 2020, up 22% YoY.Strongest year in history record growth in net new active customers, volume, revenue, operating income, earnings, and free cash flow.We also note that Visa’s CEO, Al Kelly, has indicated that the payments company may add cryptocurrencies to its network. The company had rapid product development focused on extending its digital wallet product in crypto and e-commerce in 2020 (e.g., wish lists, price monitoring, deals, coupons, and rewards for use in the physical and digital worlds).ĪmazonPay and PayPal are increasingly looking like they are on a collision course to compete for the consumer wallet share. The company is developing new business lines competitive with Affirm and Coinbase, as PayPal seeks new avenues of growth (slower pace of customer growth 13% projected in 2021, vs. PayPal: PayPal positioned itself as the full-service “Super App” for Digital Consumer Banking. Prices are bid up owing to the increased demand and tighter credit spreads.Įarnings Season Continues – PayPal Bets the Future on Crypto Yields across all classes of notes in this deal are also lower than the prior deal in Q4 2020 (see below).
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