PayPal plans first job cuts since 2008 financial crisis

SAN FRANCISCO (Reuters) - PayPal is planning to cut as much as 3 percent of its workforce as the payments division of eBay Inc looks to streamline its operations under new President David Marcus, a person familiar with the situation said on Friday. The reductions are expected to total between 300 and 400 and be focused in product development, technology and marketing, the person said on condition of anonymity because the plans are not public. PayPal has almost 13,000 employees. The job cuts will be PayPal's first major reductions since the financial crisis in 2008. ...

In store payment option

The battle between PayPal, Square, and Google Wallet to determine which of the competing mobile payment options will reign supreme continues to heat up. Hot off news that it is working with McDonald's to let the fast food giant's customers pay using their mobile devices, PayPal has announced a deal that will see it accepted at retailers that also take Discover Card starting in April 2013.

Accepting PayPal won't require stores, restaurants, and other locations to make any upgrades to their registers. PayPal already has a service called PayPal Here which allows businesses to accept standard credit cards using a card-reading peripheral designed to work with iPhone and Android devices.

One of PayPal's rival in the mobile payment realm, Square, announced a $25 million deal with Starbucks earlier this month that will let customers pay for coffee using their phones and tablets. Discover competitor Visa is a major investor in Square.

PayPal is expanding its brick-and-mortar payment services

PayPal to offer in-store payments thru Discover PayPal is expanding its brick-and-mortar payment services to more than 7 million stores across the U.S. in a partnership with Discover Financial Services.