PayPal has applied to create an industrial bank in Utah to enhance its small business lending services. Mara McNeill, a veteran in financial services, will lead the new entity, PayPal Bank. This move follows PayPal's recent sale of $7 billion in receivables from its buy now, pay later division.

PayPal is launching a retail media solution aimed at empowering small businesses to tap into the burgeoning $100 billion retail media advertising market. This initiative will allow these businesses to leverage PayPal's platform for targeted advertising, enabling them to reach new customers and compete effectively in the digital advertising landscape.