PayPal sells its consumer credit portfolio to Synchrony for $7 billion

Techcrunch ----------- In November 2017, PayPal announced it had agreed to sell $5.8 billion in consumer credit receivables to Synchrony Financial, as a part of an expanded relationship between the two companies. That deal has now closed, with Synchrony actually acquiring $7.6 billion in receivables, including PayPal’s U.S. consumer credit portfolio, totaling $6.8 billion at the close, as well as around $0.8 billion in participation interests held by unaffiliated third parties.PayPal received approximately $6.9 billion in total consideration at the time of closing. To learn more click on the picture below to read the article.