Earnings Outlook: PayPal earnings: Expansion plans focus on debit cards, global services

PayPal Holdings Inc. has “no aspirations to be a bank,” Chief Operating Officer Bill Ready says, but the company sees room to offer banklike products to customers who don’t have a nearby branch.

In recent weeks, PayPal PYPL, -1.19% has taken steps to expand its offerings for those without traditional bank accounts. Users can now deposit money directly into their PayPal accounts or onto a new, FDIC-insured prepaid debit card.

There’s a noble goal behind PayPal’s efforts. Dealing with finances is expensive for those who don’t have bank accounts and need to fork over a hefty portion of their paycheck every time they want to cash that check or pay a bill.

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