In July, Stripe and private equity firm Advent International made a joint offer to buy the digital payments pioneer for $60.50 a share, which would have valued PayPal at around $53 billion, according to media reports. PayPal has struggled to compete with other payments providers including Apple Pay and Google Pay.

PayPal is still reportedly negotiating a potential sale to Stripe and private equity firm Advent, as the fintech firm's new CEO attempts to turn the company around.

In July, Stripe and private equity firm Advent International made a joint offer to buy the digital payments pioneer for $60.50 a share, which would have valued PayPal at around…