PayPal and Synchrony Complete credit line Receivables Sale.


With the completion of the transaction, PayPal and Synchrony have extended their existing co-brand credit.

We’re pleased that we’ve completed the sale of our U.S. credit line receivables portfolio," said Dan Schulman, President, and CEO of PayPal. "Our agreement with Synchrony accomplishes every goal we began for our asset-light strategy. we glance forward to working with Synchrony to double down on our innovative credit line experiences for our customers and profitably grow the portfolio over time.”

“This collaboration plays to both companies’ strengths in providing seamless digital payments and innovating for partners, merchants, and consumers. It also expands Synchrony’s leadership in credit line programs,” said Margaret Keane, President, and CEO of Synchrony. “Together we will provide an enhanced customer experience for thousands of merchants and consumers.”About PayPal

Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to hitch and thrive within the global economy. Our open digital payments platform gives PayPal's 237 million active account holders the arrogance to attach and transact in new and powerful ways, whether or not they are online, on a mobile device, in an app, or face to face. Through a mixture of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money and offers choice and adaptability when sending payments, paying, or getting paid. Available in additional than 200 markets around the world, the PayPal platform, including Braintree, Venmo, and Xoom, enables consumers and merchants to receive money in additional than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit www.paypal.com/about or follow us at @PayPalNews. For PayPal Holdings, Inc. financial information, visit investor.paypal-corp.com

Since 2004, PayPal and Synchrony Bank have partnered to supply PayPal-branded credit line cards to consumers. The expanded agreement with Synchrony Bank for both the U.S. PayPal Credit online consumer financing program and therefore the U.S. PayPal-branded credit line card program allows PayPal to collaborate with an industry leader to complement and expand PayPal’s credit line offerings.

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