PayPal Launches Interest-Free Buy Now Pay Later Installment Solution


PayPal Holdings, Inc. (NASDAQ: PYPL) announced on Monday the launch of its new interest-free buy now pay later installment solution, Pay in 4. According to PayPal, Pay in 4 enables merchants and partners to get paid upfront while enabling customers to pay for purchases between $30 and $600 over a six-week period.

Pay in 4 is included in the merchant’s existing PayPal pricing, so merchants don’t pay any additional fees to enable it for their customers. Consumers pay no fees or interest, and payments are seamless with automatic re-payments. Pay in 4 will also appear in the customer’s PayPal wallet, so they can manage their payments in the PayPal app.”

While sharing more details about the service, Doug Bland, SVP, Global Credit at PayPal, stated:

“With Pay in 4, we’re building on our history as the originator in the buy now, pay later space, coupled with PayPal’s trust and ubiquity, to enable a responsible and flexible way for consumers to shop while providing merchants with a tool that helps drive sales, loyalty and customer choice.”

PayPal further revealed that along with Pay in 4, it offers several other financing options. PayPal Credit, a reusable line of credit with various promotional offers built-in like 6 months special financing and Easy Payments, which is available in the U.S. and the UK.  The payments platform also offers PayPal Ratenzahlung and Paiement en 4X, which are installment products in the German and French markets, and Pay After Delivery, a buy now, pay later offering in Australia, Canada, France, Germany, Spain, The Netherlands, and the UK.

Pay in 4 will be available to consumers on qualifying purchases in early fourth quarter of 2020.

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