SQ - PayPal stock rises after use of its BNPL service jumps five-fold on Black Friday

December, 01 2021 08:15 AM Square Inc. Class A

PayPal Holdings (NASDAQ:PYPL) stock gains 1.6% in premarket trading after CEO Dan Schulman said the company's "Buy Now, Pay Later" option surged almost 400% Y/Y on Black Friday in an interview on CNBC's "Mad Money" program. "That's been one of the stars of the holiday season for us," Schulman said after the close on Tuesday. "We did some 750,000 transactions alone in one day on Black Friday," he told Jim Cramer referring to the Friday after Thanksgiving. And the company had more than $1B of process volume through its BNPL option in November. "We did over 1M first-time users for the first time ever in a month," he added. He also said the company is on track for 55M net new actives. BNPL rival Affirm Holdings (NASDAQ:AFRM) rises 1.6% in premarket. Square (NYSE:SQ), which is buying BNPL firm Afterpay (OTCPK:AFTPY), rises 0.6%. Mastercard (NYSE:MA) gains 1.8% and Visa (NYSE:V) is up 1.4%; both are involved in

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PayPal stock rises after use of its BNPL service jumps five-fold on Black Friday

Company Name:	Square Inc. Class A
Stock Symbol:	SQ
Market:	NYSE
Website:	block.xyz

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