paypal will soon allow deferral of payment up to one up to 24 months Recently – in line with what Amazon already offers – PayPal offers the option of splitting payments into three installments, with no interest.
These types of services are increasingly common among fintech companies. The formula is called ‘Buy now, pay later‘and in Asia it’s been very popular for a while. Apple also recently introduced a similar service, Apple Pay Later. These solutions are useful to businesses for a simple reason: they encourage consumers to spend more, buying goods and services that would normally be out of their reach, or that they would evaluate with greater caution due to lack of timeframes.
No longer just three terms. The new service Pay monthly allows you to split even the largest amounts, making it easier to buy expensive products such as televisions and computers. Pay Monthly, which is offered in collaboration with Web Bank, guarantees the possibility to split the amount into 6, 12 or 24 installments
At the moment, the new offer is only active in the United States of America, but don’t worry: even the possibility of dividing the amounts into three installments was not initially presented in Italy, only to arrive with us a few months later.
Pay Monthly is available on all purchases between $199 and $10,000. The first installment is paid 30 days after purchase. In this case there are commissions, the APR is calculated based on the risk, with a range between 0% and 29.99%.
Abroad, PayPal is starting to look more and more like a super app, with multiple financial services offered in one place. In the US and UK it is possible to transact in cryptocurrencies:
PayPal allows the transfer of cryptocurrencies to external non-custodial wallets. And when in Italy?
Source: Lega Nerd
