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PayPal chief defends long-term strategy after sales miss

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Mr Schulman said that PayPal's strategy is to keep increasing its presence in the flow of money from shoppers to merchants as well as from family and friends to one another.

Seattle

PAYPAL Holdings Inc chief executive officer Dan Schulman defended his strategy of inking deals with big merchants and smartphone app providers, and offering free peer-to-peer payments as investors sent shares down on concerns the efforts are hurting the company's quarterly profit

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