May 25, 2016Blog Posts

Visa’s CEO just threatened to go after PayPal ‘in ways that people have never seen before’

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PayPal has long been both a friend and a foe to credit card companies. But to Visa CEO Charlie Scharf, it’s either one or the other. At a tech conference hosted by JPMorgan Chase this week, Scharf said he wants PayPal to stop urging its users to fund their PayPal accounts with their bank accounts — a method called ACH — instead of debit or credit cards. Such an arrangement is more profitable for PayPal, but a problem for card companies like Visa.

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