“And most importantly, we are now growing our Braintree TPV again and expect an acceleration in the back half of the year.”

In context

“and Venmo. Over time, PayPal World aims to connect billions of users at scale, and we expect this to expand as we add more partners in the coming months and years. Even since our announcement last week, we've received multiple inbound requests from wallets across the globe looking to join the PayPal World platform. Moving to our PSP business. I want to reflect on one of my first earnings calls where we shared our plan to reset our largest merchant relationships to price our services to the value we deliver. The consequence of that reset was pressure on growth in exchange for long-term profitability. Now we are on the other side of that and can confidently say that our strategy worked. We maintained our customers, and we are having more strategic conversations and relationships with them. And most importantly, we are now growing our Braintree TPV again and expect an acceleration in the back half of the year. This is an important inflection point, and I am really proud of the team for their execution. Key to this strategy has been investing in and scaling our strong suite of value-added services. These services are helping position PayPal as a trusted, innovative partner in this evolving commerce landscape and have transformed the margin profile of our PSP business. Let me share one example. Payouts is one of the value-added services that is growing rapidly. Some of the world's top travel, mobility and social commerce platforms already use Hyperwallet to manage and distribute funds to hosts, drivers and creators globally. Most recently, our payouts capabilities were a strategic enabler in our landmark partnerships with the Big 12 and Big Ten college athletic conferences that I mentioned earlie”