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“This is another great step forward for PayPal and in line with our balance-sheet light model for credit,” PayPal Chief Financial Officer and Chief Operating Officer Jamie Miller said in the release. “This transaction reflects our disciplined approach to capital allocation. Partnering with Blue Owl helps support the growth of our pay later portfolio and gives us greater ability to invest in our strategic initiatives and innovation.”
“Online consumer financing has been a strategic offering of PayPal since 2008, and in 2020, the company launched its Pay in 4 product,” the release said. “PayPal’s BNPL solutions are available nearly everywhere PayPal is accepted in its largest markets, making it one of the most broadly distributed BNPL solutions.”
