PayPal introduced new ‘buy now, pay later’ solution

This will allow all users from the United States to allocate and defer payments. 

PayPal

PayPal announced the launch of its funding solution. Source: depositphotos.com

PayPal announced the launch of PayPal Pay Monthly as part of Webbank’s Buy Now Pay Later program. 

According to a recent report,65% of US presidents save for some major purchase, and 79% of respondents try to properly account for their budget and save money. The new PayPal Pay Monthly service will allow people to make online purchases from $199 to $10,000 and defer payments for 6-24 months, subject to making the initial payment after the purchase.

How consumers look to pay for larger purchases is evolving and there is a growing demand for flexible payment options with 22 million PayPal customers using our pay later offering this past year. Pay Monthly builds on our commitment to deliver leading payment solutions that offer customers the choice to ensure checkout matches their needs and budgeting preferences.
Greg Lisiewski, Vice President of Shopping and Pay Later at PayPal

After filling out the application at the cashier’s desk and a go-ahead decision, the customer will be given a choice of three diverse plans with a rate from 0 to 29.9%. Pay Monthly and PayPal Pay in 4 proprietary products will allow users to make payments avoiding delinquencies, and select any convenient repayment method. Users will also be confident in the security of their purchases due to PayPal Purchase Protection.

We`ve reported Grubhub presented a solution for income tracking.

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