The battle for alternative lending, as extra juice for the carve out of PayPal. On itself PayPal could have started this much earlier so creating more focus on PayPal as standalone business might be worth it!
PayPal is moving into the alternative lending market popularised by faster growing start-ups such as Lending Club, and has already made more than $200m of loans to consumers and small businesses. Paypal’s new lending programme is more modest than market leaders such as Lending Club and OnDeck. But executives say it could be crucial for the company as it spins off next year from parent eBay and must compete for users in an increasingly crowded payments-processing industry. More