Paypal Installment: Pay Later
PayPal offers short-term, interest-free payments and other special financing options that buyers can use to buy now and pay later, while merchants get paid up-front. Pay Later is included with the standard PayPal Checkout. However, specific Pay Later offers differ by country.
Pay Later in the UK includes the following:
- Pay in 3 – Eligible UK buyers can pay in three interest-free payments for purchases of £30 – £2,000.
- PayPal Credit – Eligible UK buyers receive a revolving line of credit that they can use to pay over time. PayPal Credit offers either 0% interest for 4 months on purchases over £99 or a merchant-specific Installment offers. For the 0% interest for 4 months offer, any remaining balance due after the promotional period or any transactions under £99 are charged interest at the standard variable rate. Terms and conditions apply.
Disclaimer: If you can't see the pay later button at checkout, it means that paypal has determined that you are not eligible for the time being.
How it works
A customer visits website and sees that they can buy now and pay later.
When Eligible customers check out with PayPal, they can choose Pay in 3.
Paypal handles it from there - the merchant gets paid up front and in full.
