Speaking at Money20/20 in Las Vegas, PayPal chief executive Enrique Lores said the company is not moving fast enough and has already removed layers of management. His strategy emphasises more investment in Venmo and Braintree and in consumer finance services. He estimated that AI agent payments will not reach meaningful volume before 2028. According to reports, the company plans to cut roughly 20% of its workforce, and the stock has lost about 76% over five years.

What it means: A public admission that a company the size of PayPal is slow is unusual and shows how much pressure it is under. The classic checkout button is losing ground to Apple Pay, Shop Pay and payment providers' own solutions, while Braintree, which processes payments for large merchants, runs on thin margins. Choosing to invest in Venmo shows PayPal sees its biggest opportunity in a young consumer account with payments, cards and credit. The estimate on agent payments is also notable: while many in the industry announce protocols and pilots, one of the largest players says real volumes will take time. That does not mean the market will not come, but that today's investments are about positioning rather than immediate revenue. The job cuts, if confirmed, would be among the largest in the sector this year. For European merchants, where PayPal is still very widely used, a focus on the US market and Venmo may mean less innovation in Europe, just as home-grown options such as Wero try to win share.

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