Just days after Klarna announced that its losses had grown sevenfold in the first half of 2020, PayPal has launched a buy now, pay later offering similar to the one given by Klarna and its rivals such as AfterPay and Affirm.
Pay in 4 is a short-term interest-free buy-now-pay-later instalment offering for merchants in the US.
It’s a new instalment service is an extension of PayPal’s existing lineup of pay later options that includes PayPal Credit’s revolving credit line and its Easy Payments, TechCrunch reported.
The new Pay in 4 offering will give buyers the chance to pay for purchases between $30 and $600 over a six-week period without having to pay any extra fees.
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