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TechRadar

Craig Hale

PayPal wants to set up a bank to help support small businesses

PayPal United States Alex Chriss TechRadar

PayPal Debit card.

PayPal Bank could be the company's next move in the US, subject to approvals
SMB loans and interest-bearing savings accounts are in the pipeline
Former Toyota finance exec appointed as the Bank's President

PayPal has started the formal process to open "PayPal Bank" which it hopes will improve small business lending in the US and reduce reliance on third-party banks.

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