Branded Checkout GrowthThere are worries about PYPL’s moat given US Branded Checkout growth in the LSD% range in prior quarters and as other checkout options like Shop Pay & Apple Pay become more prevalent.
CompetitionGrowing competition from Square, Apple Pay, and BNPL firms could present a threat to PayPal’s dominance.
Economic ConditionsAn economic downturn may lead to a decline in e-commerce volumes and consumer spending which will negatively affect PayPal’s total payment volume and earnings.