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The payments company said the Consumer Financial Protection Bureau has closed a probe it began in 2020 after a consumer advocacy group accused PayPal of offering students at for-profit universities high-cost financing for unaccredited courses.
Dozens of vendors are joining real-time settlement networks from the Federal Reserve and The Clearing House. These partnerships are the first step toward making both systems interoperable.
As a stand-alone company, Worldpay will have more leeway to pursue mergers and acquisitions, FIS CEO Stephanie Ferris says.
Schulman, president and CEO of PayPal since 2014, will leave at the end of 2023. He will continue to serve on the company's board and will join in its search for a successor, the company said.
Sluggish single-digit e-commerce growth drove PayPal to postpone its forecast for the coming year, as CEO Dan Schulman, who plans to retire this year, itemized further cost cuts.