Paypal will face competition from big tech platforms such as Apple, Google, Facebook and Amazon which are all in the payments space and all testing to some extent P2P payments.
Competition from players that see payments as a feature and are willing to make no money will put pressure on market share and margins.
Paypal can look to Netflix to see how a big player can succeed in competing with those tech ecosystems: being everywhere, moving fast and being focused.
In case you can't tell, the world is now dominated by a few select big tech firms. Some call them FANG, others such as myself FANGAM, but it's fair to say that Facebook (FB