PYPL: Venmo and BNPL are driving growth as PayPal invests in agentic commerce and checkout modernization

Significant progress has been made in transaction margin growth, Venmo and BNPL expansion, and processing business turnaround. Strategic investments will continue in agentic commerce and product improvements, with a focus on long-term growth despite short-term margin headwinds.

Based on PayPal Holdings, Inc. [PYPL] Citi's 14th Annual FinTech Conference Audio Transcript — Nov. 19 2025