Paypal Starts Buy Now Pay Later Scheme

(Digital Money World) Fancy getting something of your liking online and paying later? Paypal has started the initiative of creating a credit system to allow you to do so with Paypal’s Pay Later.

Quoted by Chris George, Paypal

Pay Later is incredibly easy for buyers. All you have to provide is your date of birth and the last 4 digits of your Social Security number, and you are approved in about 30 seconds. Once approved, existing PayPal customers can continue to use Pay Later as a funding option in their account. But Pay Later is an option even for buyers who don’t yet have a PayPal account.

Get approved in about 30 seconds

• Spend $50 or more at participating stores.
• Click the PayPal Pay Later button during checkout
• If you have an existing PayPal credit product, use it and enjoy no payments for 90 days
• If not, you’re prompted to apply for PayPal Pay Later
• Once approved, you get 90 days to pay

As you can see, you’d probably need to be a US citizen to use this option to buy items from eBay and other participating outlets. That’s a new way to get yourself in debt too if you’re not too careful and prudent on your online shopping habits.

For more information on Paypal’s Pay Later scheme, check it out here.