Shares of American Express Company (NYSE:AXP) ended Thursday session in red amid volatile trading. The shares closed down -0.85 points or -1.32% at $63.37 with 4.13 million shares getting traded. Post opening the session at $64.21, the shares hit an intraday low of $62.96 and an intraday high of $64.81 and the price vacillated in this range throughout the day. The company has a market cap of $58.49 billion and the numbers of outstanding shares have been calculated to be 923.78 million shares.
On September 29, 2016 Revenues are on the rise for small and mid-sized U.S. companies that sell goods and services internationally, according to the 2016 American Express Grow Global Survey. In the survey of companies selling outside the U.S., 80% say revenues are greater compared to one year ago, and on average, one quarter (26%) of their revenue growth can be linked to international sales alone. Additionally, as companies forecast future revenues, they are optimistic about exporting. Over the next five years, more than three-quarters (76%) anticipate their revenue from global sales to increase by about 30% on average.
While an overwhelming majority of surveyed companies (90%) agree that international markets offer significant growth opportunities, growth does not come without challenges. The most significant concerns for those selling outside the U.S. include the ability to build relationships with foreign partners (75%) followed closely by the ability to comply with local and international law, trade regulations, and transportation and shipping costs (each, 73%).
Businesses recognize they need help navigating challenges that arise when doing international business, some of which include cultural differences/different business practices (65%), political instability (64%), language barriers (59%) and a general lack of knowledge about the markets in which they operate (57%).
Shares of Paypal Holdings Inc (NASDAQ:PYPL) ended Thursday session in red amid volatile trading. The shares closed down -0.58 points or -1.42% at $40.39 with 7.95 million shares getting traded. Post opening the session at $40.91, the shares hit an intraday low of $40.36 and an intraday high of $41.30 and the price vacillated in this range throughout the day. The company has a market cap of $48.64 billion and the numbers of outstanding shares have been calculated to be 1.21 billion shares.
On September 6, 2016 PayPal (PYPL) and Mastercard (MA) announced an important expansion of their long-standing partnership that will enhance the consumer experience by making Mastercard a clear payment option within PayPal, enable Masterpass as a payment option for Braintree merchants and expand PayPal’s presence at the point of sale. This will provide increased value to Mastercard cardholders, financial institutions and PayPal customers.
Under the expanded partnership, consumers and small businesses will be able to instantly cash out funds held in their PayPal accounts to a Mastercard debit card. PayPal will also be provided certain financial volume incentives and, as a result of the commitments made under this agreement, will no longer be subject to the digital wallet operator fee.
“Customer choice and partnership are fundamental principles for PayPal that guide how we operate as a company, giving our customers greater opportunities to more easily manage and move their money online, in app and in-store,” said Dan Schulman, president and CEO, PayPal. “With each partnership agreement that we sign, we further expand the ubiquity and value of the PayPal brand and improve our own economics. Mastercard has been a trusted partner for many years. By collaborating and innovating together we will continue to help move digital payments forward and improve payment experiences for our mutual customers.”
“Whether paying in the physical or digital world, consumers want to see the familiar Mastercard brand from their chosen issuer,” said Ajay Banga, president and CEO, Mastercard. “The expansion of the partnership with PayPal further reinforces our commitment to our billions of cardholders across the globe to provide them the choice to pay when, where and how they want while delivering the simple and secure payment experience they’ve come to expect from Mastercard.”