Pay Pal Holdings Inc. processed $26 billion in mobile payments in the third quarter ended Sept. 30, up 56% year over year; the payment processing company reported Thursday. Pay Pal generates revenue from transaction fees charged to consumers and merchants as well as from fees for other services, such as Pay Pals credit loans and subscription fees. Venmo, Pay Pals mobile peer-to-peer payment app, processed $4.9 billion in payment volume, a 131% increase year over year, the company says.
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