On Monday, PayPal Holdings, Inc. (NASDAQ: PYPL) witnessed a more than 2% increase in its shares, adding to the gains it had made in the previous month.
Key highlights include the announcement made in June regarding the acquisition of up to €40 billion ($43.6 billion) worth of buy now, pay later (BNPL) loan receivables originated by PayPal in France, Germany, Italy, Spain, and the United Kingdom. Private credit funds and accounts managed by KKR entered into an exclusive multi-year agreement, backed by a €3 billion replenishing loan commitment.
Additionally, PayPal unveiled the launch of Tap to Pay on Android for Venmo business profile users in the United States. This new feature enables users to accept contactless payments directly on their Android mobile devices without requiring any additional hardware or upfront expenses.
During June, PayPal also experienced various price target revisions from analysts, with estimates ranging from $72 to $92.
In terms of PYPL price action, PayPal shares have surged by nearly 6% in the last month.
At the close of Monday’s trading session, PYPL shares were up by 2.05% at $68.10.