A little over one month after revealing plans to acquire the lender, PayPal has announced the deal is now complete.
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PayPal will fully integrate Swift Financial 'over the next year'
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“Increasing access to capital is vital to the success of small businesses and is a strategic offering for PayPal, which drives merchants’ sales growth, increases processing volume, and reduces merchant churn,” added Esch. Now that the deal is closed, Swift’s employees will form part of PayPal’s Business Financing Solutions unit and report directly to Esch.
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