PayPal Holdings, Inc. (NASDAQ:PYPL) and alternative asset manager Blue Owl Capital Inc. (NYSE:OWL) announced a two-year agreement on Wednesday under which funds managed by Blue Owl will purchase approximately $7 billion of buy now, pay later (BNPL) receivables originated by PayPal in the U.S. Under the arrangement, PayPal will continue to manage all customer-facing activities, including underwriting and servicing, for its U.S. Pay in 4 BNPL products. BNPL has been a strategic component of PayPal’s offerin ...