PayPal adds pay later feature

Posted on Thursday, Aug 02 2007 @ 18:12 CEST by Thomas De Maesschalck
PayPal has rolled out a new credit financing option called PayPal Pay Later.

This service is offered in cooperation with General Electric's GE Money Bank and will allow merchants to offer flexible financing options, like no payments for 90 days.

Of course, PayPal users will have to pay some extra fees, but it's not yet clear how high PayPal's interest rates will be.

According to a PayPal spokesperson a recent survey indicated that 56% of PayPal users are more likely to buy from an online shop if a deferred payment option is available.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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