PAYPAL CEO PLANS FOR A FIX

Summary from the TLDR Fintech newsletter

PayPal CEO Enrique Lores is trying to repair the company by reorganizing it into three units: branded checkout, processing and Venmo, and consumer financial services. His plan centers on clearer accountability, $1.5 billion in run-rate savings, potential acquisitions, more consumer financial services such as BNPL, and modernizing PayPal's fragmented technology stack after years of acquisitions, as the company faces pressure from commoditized checkout, Venmo competition, and weaker investor confidence.