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Benzinga
Benzinga
Business
Triveni Kothapalli

PayPal Teams Up With Blue Owl In $7 Billion Buy Now, Pay Later Deal

PAY PayPal Blue Owl BNPL PYPL Blue Owl Capital Inc Nasdaq NYSE
London,,Uk,-,August,2021:,Paypal,Finance,Service,Logo,On

PayPal Holdings, Inc. (NASDAQ:PYPL) and alternative asset manager Blue Owl Capital Inc. (NYSE:OWL) announced a two-year agreement on Wednesday under which funds managed by Blue Owl will purchase approximately $7 billion of buy now, pay later (BNPL) receivables originated by PayPal in the U.S.

Under the arrangement, PayPal will continue to manage all customer-facing activities, including underwriting and servicing, for its U.S. Pay in 4 BNPL products.

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