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PayPal launches ‘buy now, pay later’ scheme in major challenge to Klarna

September 1, 2020

Via: Charged

PayPal has launched its own “buy now, pay later” (BNPL) scheme in a major challenge to market leaders like Klarna and Afterpay.

‘Pay in 4’ will be freely available to all merchants who accept PayPal as a payments option, which covers a whopping 79 per cent of the top 100 online merchants.

It will allow shoppers to pay for purchases of between $30 and $600 by putting down just 25 per cent of the purchase value, then pay the rest in interest-free instalments across six weeks.

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