Payment processor PayPal expects its revenue to be affected this year by the new corona virus. The American company has noticed that the rapid spread of the Wuhan virus stands in the way of international sales via the internet, which puts a brake on online payments.
PayPal now believes that its revenue in the first quarter will be on the low side of the previously given bandwidth between $ 4.78 billion and $ 4.84 billion. The impact of the corona virus sweeps about 1 percentage point of the revenue growth, according to the payment company. The payment processor does not, however, interfere with its profit forecast.
Master-companion Mastercard also recently became more gloomy about the growth in the current quarter due to the epidemic. The credit card company also sees that the virus takes a bite out of online sales. In addition, many more people refrain from air travel, which means less use is made of a credit card.
About the author: Rick Culpepper
Rick Culpepper is of those journalists who dig the topic to the very bottom. He is often late with the delivery of the piece, but always does it perfectly. In his spare time, he collects data for one of the most high-profile investigations of corruption in the EU.