12:01 - 21.06.2023

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June 21, Fineko/abc.az. Private investment company KKR acquires a significant part, up to €40 bn ($43.71 bn) of PayPal's loan portfolio. The portfolio is formed in Europe on model "buy now, pay later" (BNPL).

ABC.Z reports that PayPal shares rose 1.5% in early morning trading on news of the deal, which is expected to bring about $1.8 bn in gross revenue and will be closed in the 2nd half of the year.

After the deal closes, PayPal expects to allocate about $1 bn for a phased share buyback in 2023, bringing the total volume of share buybacks this year to about $5 bn.

Last year, PayPal processed more than $20 bn worth of BNPL payments worldwide, which is almost 160% more than in 2021. Since the launch of the BNPL service in 2020, PayPal has issued more than 200 million loans to more than 30 million customers worldwide.