PayPal shadow hangs over Western Union

• The acquisition by PayPal of bill payments firm TIO Networks could be a competitive threat to Western Union (WU -0.1%), warns Morgan Stanley (source: Bloomberg).
• PayPal bought Xoom last year in another deal that indicates payments competition with Western Union could heat up. There's also the Moneygram-Ant Financial tie-up to consider.
• Previously: PayPal closes Xoom deal (Nov. 12, 2015)
• Previously: PayPal acquiring TIO Networks for $233M (Feb. 14)