When Enrique Lores took the CEO post at PayPal Holdings this year, he knew the 28-year-old payments company needed to be “fixed,” he said this week at an investor conference.

Now, the company’s former board chairman, who became CEO in March, has a plan for repairing the company: reorganizing it into three main segments; selling more financial services to consumers; and pursuing acquisitions.

Lores mapped out those objectives during a presentation to investors Wednesday at the Goldman Sachs Communicopia and Technology conference. 

With PayPal’s stock down 20% over the past year, investors are eager to hear how Lores expects to resuscitate the San Jose, California company. That’s especially the case after a reported sale of the business collapsed last month.

Without a sale, PayPal once again faces challenges on three key fronts, Mizuho Securities analyst Dan Dolev wrote in a report last month. 

They include PayPal’s legacy checkout brand becoming a commodity play; potential share loss in Germany; and the threat to PayPal’s peer-to-peer payments unit Venmo posed by a competing X tool, Dolev said.

Part of the Lores plan is reviewing possible acquisitions for PayPal this year, he said at the conference. “If we do M&A, it will be totally related to the growth strategy that we have defined.” As for timing, he said “at some point in the next quarter, we will start looking at that.”

Lores didn’t elaborate on the types of acquisitions the company might be interested in. Dolev said this week that he hadn’t heard of any such plans.

But recently the company has been getting smaller, not bigger. PayPal has been considering divestitures, and this month began reducing its workforce as it strives to deliver $1.5 billion in annual run rate savings over the next few years. 

Lores reiterated this week that integrating the technology assets that the company has accumulated over the years through its acquisitions is part of his plan to modernize PayPal’s technology infrastructure. 

Aside from the PayPal brand, the company also includes Braintree, which caters to big companies as well as Venmo. 

To pull off these initiatives, Lores has rearranged the organizational structure he inherited around three new units, including branded checkout; processing; and Venmo and consumer financial services.

Lores said he believes establishing leaders and goals for each of those three segments will improve performance. “The major reason to do that was to increase and clarify accountability, and to accelerate decision-making,” Lores said of the realignment.

In April, Frank Keller was named president of the PayPal branded business, including checkout solutions, debit card services and advertising services, as part of the company’s “strategic reorganization” creating three separate operating businesses within the company, per a press release then. He joined the company 15 years ago in May 2011, according to his LinkedIn profile.

Jeff Pomeroy, a former Fiserv executive, was named as “interim lead” for the separate payment services and crypto business, also in April. His LinkedIn profile notes that he is leading that unit.

Alexis Sowa, a former manager at Block’s Square, was appointed as the “interim lead” for the consumer financial services and Venmo business unit. Her current LinkedIn profile title is general manager for Venmo and a senior vice president. 

A PayPal spokesperson declined to comment on the timing for determining permanent leaders for the interim roles.

To generate more profitable revenue, Lores is intent on having the company focus more on its consumer customers, who sit on the other side of merchants in PayPal’s two-sided network. The company has overemphasized its merchant client side in the past, at the expense of cultivating more consumer revenue, he said.

Selling more financial services to consumers is a central part of the CEO’s plan, with an expansion of its buy now, pay later installment financing services. That includes focusing on existing, high-value consumer customers, and enticing them with a loyalty program in Germany, he said.

“We have been relying on branded checkout as the source of profit for the company – we are rebalancing that, and we see a big opportunity across the full portfolio in financial services,” Lores said at the Goldman conference.

Still, PayPal faces a slew of competition with fintechs seeking to sell financial services through new digital tools. For instance, just in the BNPL sphere, it’s battling major players such as Klarna Group and Affirm Holdings.

Last year, PayPal applied with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to establish a Utah industry loan company. Presumably, receiving such a charter will also help it offer more financial services.