PayPal may create a platform for stock trading in the U.S.
The global online payment system PayPal is considering creating a platform that would allow its users in the U.S. to sell stocks. This was reported by CNBC television channel on Monday.
According to its information, the company has hired brokerage services professional Richard Hagan, one of the founders of TradeKing, which provided online brokerage services, to help carry out the project. Hagan headed PayPal’s investment division.
PayPal will either acquire an existing brokerage firm or partner with such a firm in order to pursue plans to sell shares. PayPal representatives have already held talks with potential investment partners. As it became known service for the sale of shares is unlikely to be created this year.
PayPal is the largest international debit electronic payment system. It allows customers to pay bills and purchases, send and receive money transfers.