Why Robinhood Should Worry About PayPal's New Payments App
Robinhood Markets (NASDAQ: HOOD) has added new users at a high rate over the past few years. For the second quarter, net cumulative funded accounts more than doubled to 22.5 million year over year. But the online trading platform could face mounting competition from PayPal Holdings (NASDAQ: PYPL), which just recently launched a new version of its digital app, complete with shopping tools, bill payment, and financial services, in addition to cryptocurrency trading.
Here's a look at what PayPal is offering and why it could steal Robinhood's thunder.
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Source Fool.com
