PayPal says an older demographic of so-called 'silver tech' was the fastest-growing segment in March.
CFO John Rainey says the older demographic, or the so-called “silver tech,” helped total payment volume -- in large part because of an increased purchase size.
This cohort of "silver tech" helped PayPal's total payment volume recover back to "pre-Covid" levels, CFO John Rainey said at the J.P. Morgan Global Technology, Media and Communications Conference last week. E-commerce more broadly has seen a boost from the Covid-era shutdowns. Mastercard and Visa both reported a more-than 40% jump in e-commerce in their second quarter results. Visa, meanwhile, saw an increase in first-time shoppers internationally. In Latin America, two out of ten card users paying for something online were doing so for the first time, Visa told CNBC.
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