KKR in PayPal BNPL Buy up And Other Digital Transactions News briefs from 6/20/23

The global investment firm KKR has agreed to purchase up to 40 billion euros ($43.7 billion) in loan receivables generated by PayPal Holdings Inc. in its buy now, pay later programs in France, Germany, Italy, Spain, and the United Kingdom. The transaction is said to include “substantially” all of the European BNPL loan portfolio on PayPal’s balance sheet at the close of the transaction.
Processor ACI Worldwide Inc. announced it will help financial institutions prepare for the expected European Commission Mandate on Instant Payments. The move comes a day after ACI’s launch in Europe of its Instant Pay real-time payments service.
Peer-to-peer payments platform InstaCash Inc. has agreed to license its patents to AppTech Payments Corp. to help AppTech launch mobile and Web applications for contactless payments, along with digital-banking services. AppTech is also expected to take an unspecified equity stake in InstaCash.
Payments-technology company XTM Inc. said it is rolling out the QRails AnyDay earned-wage access service across Canada.
Also in Canada, Cova Software launched Cova Pay, a payments service for cannabis stores.
Fintech PayNearMe Inc. named its chief innovator, Steve Capps, as the first PayNearMe Fellow. Capps joined PayNearMe in 2009.

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