PayPal introduces interest-free buy-now-pay-later solution
PayPal introduceda new service called Pay in 4, offering short-term interest-free installments for US customers.
Pay in 4 allows merchants to get paid upfront and customers to pay for purchases from $ 30 to $ 600 within 6 weeks without interest.
Merchants also don’t pay any additional commissions for the service.
For customers, Pay in 4 will appear in their PayPal wallet so that they can manage their payments in the PayPal app.
Doug Bland, SVP, Global Credit at PayPal: “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.”