The initiative is the result of the company’s efforts to “bring credit more to the center of PayPal,” according to Vice President of Credit Steve Allocca. PayPal Credit will be rolled out to the UK and Germany.
In addition to the rebranding itself, more features will be added to the service, including a transition away from being an online-only product and more functionality around monthly payments, Techcrunch reports. In addition, more servicing of that portfolio will be done within PayPal Wallet instead of on a standalone website as is currently done.
The company has also announced that PayPal Working Capital, which provides loans through WebBank, will expand to the UK and Australia.
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