PayPal takes aim at Klarna with ‘Pay in 3’ service for UK shoppers

PayPal is launching a “buy now, pay later” service in the U.K. that lets shoppers finance their purchases over three interest-free monthly instalments.

The company is taking on the likes of Sweden’s Klarna and Australia’s Afterpay, whose point-of-sale loans have increased in popularity recently.

It’s signed up a number of British retailers to offer the new service, including Crew Clothing, French Connection, Robert Dyas and Ryman.

Read more: CNBC