PayPal Forges Major Expansion of European BNPL Financing Partnership

In a strategic move that signals a profound shift in its financial operations, PayPal has dramatically expanded its existing arrangement with global investment firm KKR. The partnership, now significantly enlarged, is set to facilitate the management of up to €65 billion in “Buy Now, Pay Later” (BNPL) receivables originating from PayPal’s operations in five key European markets: the United Kingdom, Germany, France, Italy, and Spain. This expansion, announced on November 17, 2025, represents more than a simple financing tactic; it is a core component of the company’s ongoing business model transformation.

At the heart of this enlarged agreement is a structure where credit funds managed by KKR will purchase BNPL receivables from Read more...