PayPal will “hurt” from Apple Pay web launch, claims analyst

PayPal will “hurt” from the launch of Apple Pay on the web, according to Piper Jaffray analyst Gene Munster. “Munster has confidence in merchant adoption of Apple Pay for the web, predicting that as many as 43% of PayPal’s merchants will accept Apple Pay at launch,” AppleInsider reports. “He believes that PayPal may be hurt, in part, by the fact that it does not feature a customer loyalty program.” Apple announced its plans to launch Apple Pay for online payments at WWDC last week.