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PayPal Submits Applications to Establish PayPal Bank

SAN JOSE, Calif., Dec. 15, 2025 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) has officially taken a significant step forward by submitting applications to both the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) to establish PayPal Bank. This proposed bank would be a Utah-chartered industrial loan company aimed at expanding financial services for small businesses in the United States.

Enhancing Financial Accessibility for Small Businesses

Since launching its financial services initiative back in 2013, PayPal has remarkably provided access to over $30 billion in loans and working capital to more than 420,000 business accounts worldwide. This initiative has filled a crucial void for small businesses that seek the capital necessary for growth—whether that involves expanding operations, purchasing inventory, or investing in new tools and personnel essential for success.

The establishment of PayPal Bank is projected to significantly enhance the efficiency with which PayPal can deliver business lending solutions, especially to U.S.-based small businesses. By reducing reliance on third-party entities, PayPal aims to fortify its business and, in turn, provide a more streamlined service experience for customers.

Executive Insight on the Initiative

Alex Chriss, the President and Chief Executive Officer of PayPal, stated, "Securing capital remains a significant hurdle for small businesses striving to grow and scale. Establishing PayPal Bank will strengthen our business and improve our efficiency, enabling us to better support small business growth and economic opportunities across the U.S."

In addition to its lending solutions, PayPal Bank also anticipates launching interest-bearing savings accounts for its customers. Furthermore, the bank aims to seek direct membership with card networks in the U.S., which would complement its existing processing and settlement activities through established banking relationships.

Security and Leadership at PayPal Bank

If the applications are approved, customer deposits at PayPal Bank would be eligible for FDIC insurance, providing an added layer of security for depositors. The bank has appointed Mara McNeill as its President. With over 25 years of financial services experience in banking, commercial lending, and private equity, McNeill is well-equipped to lead this venture. Prior to her role at PayPal, she served as President and CEO of Toyota Financial Savings Bank.

Navigating Forward-Looking Statements

Importance of Risk Disclosure

This press release includes "forward-looking" statements as defined by applicable securities laws. These statements involve uncertainties related to future events and projected performance, including expectations surrounding the approval of PayPal Bank and the anticipated benefits it may provide. Such forward-looking statements often include language like "expect," "anticipate," "believe," and "hope," and they may indicate that an outcome "may," "could," "should," or "will" occur.

Forward-looking statements come with inherent risks that could lead actual results to deviate considerably from those anticipated. Interested parties can find more detailed information about these risks and other factors in PayPal Holdings, Inc.’s most recent Annual Reports (Form 10-K), Quarterly Reports (Form 10-Q), Current Reports (Form 8-K), and future filings with the Securities and Exchange Commission (SEC).

Commitment to Statement Accuracy

The forward-looking representations made in this release speak solely as of today. PayPal explicitly disclaims any obligation to update or revise these statements in light of new information, expectations, or changes in circumstances.

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About PayPal

Founded over 25 years ago, PayPal has been at the forefront of revolutionizing global commerce. The company creates innovative experiences that simplify money movement, buying, and selling, all while focusing on security and personalization. PayPal empowers consumers and businesses across approximately 200 markets, enabling them to join and prosper in the global economy. For additional information, visit their official website at paypal.com, or explore their corporate and investor resources at about.pypl.com and investor.pypl.com.

Contact Information

Investor Relations Contact:
Email: [email protected]

Media Relations Contact:
Email: [email protected]

For further insights and the original multimedia content, you can access the full press release here.

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