PayPal stated it will continue to be responsible for all customer-facing activities, including underwriting and servicing, associated with its U.S. Pay in four BNPL products.
PayPal Holdings Inc. (PYPL) on Wednesday announced a multi-year deal with Blue Owl Capital Inc. (OWL) to sell nearly $7 billion of its buy now, pay later (BNPL) receivables originated in the U.S.
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According to the company’s announcement, funds managed by Blue Owl will purchase these BNPL receivables as part of a two-year agreement. PayPal stated it will continue to be responsible for all customer-facing activities, including underwriting and servicing, associated with its U.S. Pay in four BNPL products.
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