PayPal, Blue Owl Capital execute two-year agreement for receivables

PayPal Holdings (PYPL) and Blue Owl Capital (OWL) announced the execution of a two-year agreement under which funds managed by Blue Owl will purchase approximately $7B of buy now, pay later receivables originated by PayPal in the U.S. PayPal will remain responsible for all customer-facing activities, including underwriting and servicing, associated with its U.S. Pay in 4 BNPL products. The transaction is already contemplated in PayPal’s third quarter and full year 2025 guidance for GAAP and non-GAAP earnings per share, and non-GAAP transaction margin dollars announced on July 29, 2025.