Finance

PayPal embracing installment payments with new “Pay in 4” initiative

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Earlier this week, Paypal introduced a new option for its users to pay for items in installments. This gives users credit and is known as the “Pay in 4” option on the service. This allows Paypal users to buy items with four interest free payments and is a further example of the company’s Pay Later methods. Users are also able to have a credit line through Paypal Credit and also have the ability to make Easy Payments.

The Pay in 4 option allows Paypal users to pay for items that cost between $30 and $600 during a six week period. It is definitely the company’s latest attempt to help those in need during the coronavirus and the no fee policy is an attempt to really get people to start adopting the new practice. Not only is the service free to PayPal users, it will also be free for merchants who offer their products via PayPal.

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