Synchrony to buy $6.8 billion receivables portfolio from PayPal

Reuters

Published Nov 16, 2017 13:19

Synchrony to buy $6.8 billion receivables portfolio from PayPal

(Reuters) - Consumer financial services company Synchrony Financial (N:SYF) said on Thursday that it would buy $6.8 billion (£5.1 billion) in receivables from PayPal Holdings Inc (O:PYPL), including the payment processor's U.S. consumer credit receivables portfolio.