I couldn't help but note that Paypal has entered the buy now, pay later game with their "Pay in 4" offering. I use PayPal occasionally for paying for online purchases, and recently, they have been offering up the Pay in 4 option for me.
Pay in 4 is a buy now pay later payment service. PayPal pays the merchant upfront and then charges you the first of four equal instalments when you buy the item. You then repay PayPal fortnightly until the balance is cleared. As a result, I get to spread the purchase cost over six weeks or four interest-free instalments.
PayPal does not charge late fees. However, if you miss a Pay in 4 payment instalment, the PayPal buy now pay later option will no longer be available. If the balance remains unpaid for a long time, you may lose the ability to use other PayPal services.
As an existing PayPal customer, Pay in 4 could be a good option for me. As long as I do not purchase items outside my budget and keep up with instalment payments, it allows me to spread the cost of purchase out over time. However, I need to keep in mind that there are consequences for late payments that could affect your credit score.
Pay in 4 is a buy now pay later payment service. PayPal pays the merchant upfront and then charges you the first of four equal instalments when you buy the item. You then repay PayPal fortnightly until the balance is cleared. As a result, I get to spread the purchase cost over six weeks or four interest-free instalments.
PayPal does not charge late fees. However, if you miss a Pay in 4 payment instalment, the PayPal buy now pay later option will no longer be available. If the balance remains unpaid for a long time, you may lose the ability to use other PayPal services.
As an existing PayPal customer, Pay in 4 could be a good option for me. As long as I do not purchase items outside my budget and keep up with instalment payments, it allows me to spread the cost of purchase out over time. However, I need to keep in mind that there are consequences for late payments that could affect your credit score.
therealbrandonwilson
