PayPal has decided to launch a new credit payment option and here is the name that does not deceive: Pay in 4 will allow users of the service to pay for their purchases four separate times.
More specifically, and according to what has been defined for the North American market, the Pay in 4 option applies to purchases starting at $ 30 and up to a limit of $ 600. The maximum period of time for “installments” is six weeks. After the first payment, the remaining three will be automatic.
The future option does not involve charging interest to users nor does it entail any additional fee for merchants who already contract PayPal services. There is, however, a penalty when there is a delay in payment, which will vary by region.
Since PayPal is linked to a customer’s payment card or bank account, the chances of having forgotten payments are not very high.