Fintech

Key facts:

  • FIS' introduction of Banking-as-a-Service (BaaS) comes as embedded finance sees broader adoption while the financial services industry explores new ways to expand reach to consumers.
  • New API-enabled BaaS Hub enables an all-in-one finance experience with intuitive banking and payments capabilities.
  • This Hub will enable financial institutions of all sizes to take advantage of new capabilities quickly and efficiently to bring new features to market.

Financial technology leader FIS ® (NYSE: FIS) today announced its Banking-as-a-Service Hub, enabling banks, credit unions, and fintechs to build the digital banking and payments ecosystems they need to deliver innovation to merchants and consumers. The FIS Banking-as-a-Service Hub provides a full suite of banking and payments capabilities for institutions of all sizes, allowing for more opportunities to deliver embedded finance solutions for superior customer experiences.

The FIS Banking-as-a-Service Hub specializes in enabling business functions that give banks, fintechs, and corporations across any industry the ability to rapidly configure new financial services offerings. By delivering banking and payments products in an "as-a-service" fashion, institutions can pressure test rapid innovation with a low-risk "pay-as-you-grow" model.

The FIS Banking-as-a-Service Hub enables "as-a-service" features for customers including accounts, cards, and money movement. Customers will have the ability to leverage the services as packages, initially including Deposit Banking, Financial Wellness, and Move Money, in addition to future solutions that will be added to address evolving market trends. This will allow financial institutions and fintechs to quickly take advantage of FIS' innovative banking and payments capabilities regardless of whether they leverage FIS products today.

"The FIS BaaS Hub levels the playing field between big and small financial institutions by providing all consumers with unbundled FIS and fintech solutions that can be easily embedded into any digital channel," says Rob Lee, President, FIS Impact Ventures at FIS. "The Hub was created to be a gateway to innovation and a bridge to better partnerships between banks, retailers, and fintechs."

The fast-growing Banking-as-a-Service market is expected to grow to a more than $25 billion industry by 2026 1 and embedded finance fintech segments are expected to reach $230 billion in terms of new revenue volume by 2025. 2

FIS plans to release new features and capabilities to the Hub in the future that will serve this market, helping businesses of all sizes innovate faster, smarter, and more securely than ever before.

About FIS

FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world's economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500 ® and the Standard & Poor's 500 ® Index. To learn more, visit www.fisglobal.com . Follow FIS on Facebook , LinkedIn and Twitter ( @FISGlobal ).

1 "Banking as a Service: Banks' $25 Billion Revenue Opportunity in Fintech Banking," Synctera.
2 "The Embedded Finance Explainer," Insider Intelligence,  January 2021.

Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com

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PayPal Logo (PRNewsfoto/PayPal)

PayPal estimates that the proceeds from the offering will be approximately $2.99 billion , before deducting offering expenses. PayPal intends to use a portion of the proceeds from the offering to fund the purchase for cash of any and all of the Company's outstanding 2.200% Notes due 2022 and 1.350% Notes due 2023 pursuant to the tender offer that commenced on May 16, 2022 and for the payment of related and unpaid interest, premiums, fees and expenses. PayPal intends to use the remainder for general corporate purposes, which may include funding the repayment or redemption of any 2022 Notes and 2023 Notes that are not validly tendered and accepted for payment in the tender offer, as well as other outstanding debt, share repurchases, ongoing operations, capital expenditures and possible acquisitions of businesses or assets or strategic investments.

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This offering is being made under an automatic effective shelf registration statement on Form S-3 filed by PayPal with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus supplement and accompanying prospectus. Before you invest, you should read the prospectus supplement and accompanying prospectus, as well as other documents PayPal has filed or will file with the SEC for more complete information about PayPal and this offering. These documents may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov . Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus, and, when available, the final prospectus supplement for the offering may be obtained by contacting: BofA Securities, Inc. at NC1-004-03-43 200 North College Street, 3rd floor Charlotte NC 28255-0001 Attention: Prospectus Department, e-mail: dg.prospectus_requests@bofa.com , telephone: 1-800-294-1322; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com ; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649.

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About PayPal

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Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of applicable securities laws, including statements related to the anticipated terms of the offering, the anticipated closing of the offering, the expected use of proceeds of the notes and other statements that are not historical fact. These forward-looking statements can be identified by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "strategy," "future," "opportunity," "plan," "project," "forecast" and other similar expressions. Forward-looking statements are based upon various estimates and assumptions, as well as information known to PayPal as of the date of this press release, and are inherently subject to numerous risks and uncertainties. Accordingly, actual results could differ materially from those predicted or implied by forward-looking statements.  For the reasons discussed above, you should not place undue reliance on the forward-looking statements in this press release. PayPal assumes no obligation to update such forward-looking statements, except as required by law.

Investor Relations Contacts
Gabrielle Rabinovitch
grabinovitch@paypal.com

Ryan Wallace
ryanwallace@paypal.com

Media Relations Contacts
Josh Criscoe
jcriscoe@paypal.com

Taylor Watson
taywatson@paypal.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/paypal-announces-pricing-of-senior-notes-offering-301548490.html

SOURCE PayPal Holdings, Inc.

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Key facts

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