The PayPal buy now pay later service gives you the power to spread payment conveniently at millions of online stores and it is quick and easy to use.
Being able to defer payment for products you need allows you to have items without upfront costs and you can do so with a growing number of split payment providers.
When it comes to the number of places you can spread the cost of your purchases, PayPal has a large number of merchants that accept it for pay-later shopping hence, a must-have if you want super-purchasing power.
TOP STORES THAT ACCEPT PAYPAL BNPL
Abunda
- Use your PayPal Pay in 4 to buy any product on Amazon and spread the cost into four bi-weekly or monthly payments.
eBay
- You can buy several products on eBay and conveniently defer payment using your PayPal account.
Ticketmaster
- If you need concert tickets or for sporting events and other shows, Ticketmaster accepts Pay in 4 with PayPal.
Priority Tire
- One of the largest tire dealers online and supports PayPal Credit as one of its financing providers.
Alternative Airlines
- Probably the flight ticket booking site with the highest number of spread payment integrations.
How to Use PayPal Buy Now Pay Later
There are different ways you can utilize your purchasing power assigned by PayPal financing services, here below are the processes:
How to Use PayPal Pay in 4
The bi-weekly pay in 4 is the primary method, the most common and fast approach to using the PayPal buy now pay later service.
This option is interest-free and limited to six weeks but can be used directly when making payment at any of the online stores that accept PayPal provided your cart value is $30 up to a maximum of $1,500.
Here are the steps to use it below:
Ensure You Have a PayPal Account
To utilize PayPal Pay in 4, you need to have a PayPal account. If you do not already have one, do not worry; it is easy to set up.
Simply visit the PayPal website and follow the straightforward sign-up process. You will need to provide some basic personal information and link a valid payment method, such as a credit card or bank account, to your PayPal account.
Link a Payment Method
Before you can proceed with using PayPal Pay in 4, it is essential to have a payment method linked to your PayPal account. This linked payment method will be used for your Pay in 4 payments.
PayPal offers various payment methods, including credit cards, debit cards, and bank accounts. Ensure that the linked payment method has sufficient funds to cover your initial payment.
Visit a Merchant That Accepts PayPal
Look for online retailers that offer PayPal Pay in 4 as a payment option. This payment method is becoming increasingly popular and is supported by numerous e-commerce websites.
When shopping online, verify that the items you want to purchase are eligible for PayPal Pay in 4.
Add Items to Your Cart
Once you have identified the items you desire, add them to your shopping cart. As you browse the online store, you can add products to your cart just as you would do on any other day.
Proceed to Checkout
After adding all your desired items to your cart, proceed to the checkout page. This is where you will finalize the purchase and select your payment method.
Review Your Order
Take a moment to review your order before proceeding. Ensure that the items and quantities are correct, and confirm that the total order amount aligns with your budget. It is also an excellent time to verify any promotional codes or discounts.
Select PayPal as Your Payment Option
On the checkout page, you will typically see a list of payment options. Choose PayPal as your preferred payment method.
Choose PayPal Pay in 4
Under the available PayPal payment options, select “Pay in 4” or a similar option (the exact wording may vary depending on the retailer). PayPal Pay in 4 allows you to divide the total order amount into four equal payments.
Verify Your Purchase
PayPal may request you to confirm your purchase and agree to the terms and conditions associated with using PayPal Pay in 4. Review and accept these terms to proceed with your payment.
Complete the First Payment
At this point, you will make the first of four payments. This initial payment represents 25% of the total order amount and is charged to your linked payment method at the time of purchase.
It is crucial to ensure that your linked payment method has sufficient funds or credit available to cover this payment.
Expect Product Delivery
Once your initial payment is successful, an order will be created which will be delivered by the merchant.
In terms of delivery schedule, it could be between 1 – 7 days and this varies depending on the merchant. This might be indicated in the order email sent to you or check with the support team regarding when you will receive the items ordered.
Automatic Bi-weekly Deductions
The convenience of PayPal Pay in 4 lies in its automated payment schedule. The remaining three payments will be automatically deducted from your linked payment method every two weeks.
These automated payment deductions help you stick to your budget and avoid late fees.
How to Use PayPal Credit (Monthly)
PayPal Credit is another financing product offered by PayPal that gives you a credit line (usually from $250) allowing you to defer payment for up to 12 months and you can use it to buy now and later for high-ticket items with a cart value of $99 up to a maximum of $12,000.
This option is interest-free for six months but after that, you will be expected to bear an APR of 29.24%.
The PayPal Credit is offered through Synchrony Bank hence, a hard credit inquiry that could show on your credit report will be conducted to assign a credit line to you.
This PayPal buy now pay later option is a better replacement for its Pay Monthly service which was created in partnership with WebBank and had a fixed APR ranging from 9.99% – 35.99 % based on creditworthiness.
Here are the steps to use it below:
Create or Log into your PayPal Account
To make use of PayPal Credit, having a PayPal account is a prerequisite. If you do not already possess one, there is no need for concern, as setting up an account is a straightforward process.
To get started, visit the PayPal website and proceed with the uncomplicated sign-up procedure. You will be prompted to supply essential personal details and link a valid payment method, such as a credit card or bank account, to your newly created PayPal account.
Connect a Payment Method
Before you can make use of PayPal Credit, it is imperative to have a payment method associated with your PayPal account. This linked payment method will be utilized for processing your PayPal Credit repayments.
PayPal offers several payment methods, including credit cards, debit cards, and bank accounts. It is essential to verify that the linked payment method has sufficient funds to accommodate your initial payment when you opt for PayPal Credit.
Apply for PayPal Credit
Before you can use PayPal Credit, you must apply and be approved for it. To apply, visit the PayPal Credit application page on the PayPal website. The application typically involves providing some personal information, including your date of birth and the last four digits of your Social Security number.
PayPal will then assess your creditworthiness through a soft check that will not impact your credit score.
Link PayPal Credit to Your PayPal Account
Once you are approved for PayPal Credit, it will be linked to your existing PayPal account. You can check your available credit and manage your PayPal Credit account within your PayPal dashboard.
Shop at Any Online Retailer that Accepts PayPal
PayPal Credit can be used at any online retailer that accepts PayPal as a payment method. Look for the PayPal option during the checkout process.
Add Items to Your Cart
After you have seen the items you wish to buy, simply place them into your shopping cart. While navigating the online store, you can add products to your cart in the same manner as you would during any regular shopping session.
Proceed to Checkout
Once you have added all the items you wish to purchase to your cart, navigate to the checkout page. It is at this point that you will complete your order and choose your preferred payment method.
Review Your Order
Pause for a moment to carefully review your order before moving forward. Double-check that both the items and their quantities are accurate, and ensure that the total order amount aligns with your budget. This is also an opportune moment to verify the application of any promotional codes or discounts.
Select PayPal or “PayPal Pay Later” as Your Payment Option
Depending on the retailer you are shopping at, this option could be combined with the main PayPal option or separated under a different option like “PayPal Pay Later” or “PayPal Credit”.
If not separated, select the PayPal option or the appropriate label if it is separated.
Choose PayPal Credit
This step applies if the option is accessible after you log into your PayPal account.
Under the available options, look for “PayPal Credit” or a similar option. Select it to use PayPal Credit for your purchase.
Confirm and Complete Your Purchase
Once you are satisfied with your order and payment method, confirm your choice. PayPal Credit will be used to pay for your purchase, and the amount will be deducted from your assigned credit line balance.
Expect Product Delivery
Upon successful payment processing, the merchant will generate an order for your purchase, which will subsequently be handled for delivery.
Regarding the delivery timeframe, it typically falls within a range of 1 to 7 days, although this duration can vary depending on the specific merchant. You may find this information indicated in the order confirmation email sent to you. Alternatively, if you require precise details about the expected delivery date, do not hesitate to reach out to the merchant’s support team for clarification regarding the delivery schedule for the items you have ordered.
Automatic Monthly Deductions
The ease of using PayPal Credit is enhanced by its automated payment schedule. The subsequent payments will be automatically debited from your PayPal account or the linked payment method at 30-day intervals.
These automatic deductions play a pivotal role in assisting you in adhering to your budget and steering clear of any late fees.
Manage Your PayPal Credit Account
After completing your purchase with PayPal Credit, you can manage your PayPal Credit account through your PayPal dashboard. This includes tracking your balance, available credit, and upcoming payments.
How to Use PayPal Virtual Card
Recognizing that not all merchants accept it, the company has introduced an alternative solution that allows you to leverage your PayPal buy now pay later shopping credit through its virtual card.
This approach represents one of the most versatile methods for using split payment solutions, characterized by minimal restrictions, as this virtual card option is provided by the majority of BNPL platforms.
This Pay in 4 card is valid for one-time use and can be created to be used on merchants’ websites that do not support PayPal as one of their payment methods.
The PayPal virtual card serves as a versatile tool, designed for one-time use whenever you plan to make purchases from online retailers that do not accept PayPal as a payment option.
Powered by Mastercard, this virtual card is widely accepted, as the majority of online shopping platforms have transaction gateways equipped to handle this card type.
To acquire and use this single-use card, you must generate it beforehand, requiring an application in which you specify the intended spending amount.
When applying for this card to enable the utilization of PayPal Pay in 4 on any shopping website, be sure to include all applicable fees alongside the product’s purchase price.
It is important to keep in mind that the virtual card is rendered invalid after a single transaction. Therefore, for each shopping venture where you wish to utilize the PayPal buy now pay later service, you will need to generate a new virtual card to facilitate your purchase.
When logged into your account, you can easily find it by navigating to the “Pay Later” tile on your dashboard. Simply click on “Pay in 4” to access the details or apply for one, and the card can be generated within just a few minutes.
How to Use PayPal Buy Now Pay Later on Amazon
We created a comprehensive guide on how to use PayPal Pay in 4 on Amazon which you can refer to for full tips on utilizing your purchasing power to shop for any products:
But for a brief on how how to use PayPal buy now pay later service to shop on Amazon, refer to the below tips:
Through the virtual card
You have already seen that you can finance products on any website using a single-use virtual card powered by Mastercard.
Simply shop for the items you need on Amazon, proceed to the payment page, and enter the details of the virtual card you created to complete the order.
Shopping through Abunda
Another method to use the PayPal buy now pay later option on Amazon is by going through a financing gateway called Abunda.
This shop now and pay later service provides an interesting tool that enables you to buy products available on Amazon and complete the payment using any of PayPal, Klarna, Acima, and its other financing partners.
PayPal Buy Now Pay Later FAQs
Here are some of the frequently asked questions regarding the use of PayPal buy now pay later service:
What is PayPal buy now pay later?
The PayPal buy now pay later service are suite of financing tools created by PayPal to enable you to spread the costs of purchases across millions of websites, both those that accept PayPal and the ones that do not accept it.
These tools include Pay in 4, PayPal Credit, and the Pay Later Virtual Card.
Can I Use PayPal buy now pay later everywhere?
Virtually everywhere that accepts Mastercard, you will be able to use your PayPal buy now pay later shopping credit on such websites provided they allow USD-denominated cards.
Will PayPal buy now pay later impact my credit score?
This depends on the option you selected:
- The Pay in 4 will not impact your credit score as it does not perform hard inquiry to determine your eligibility
- The PayPal Credit eligibility check will show on your credit bureau report as a hard inquiry as this is due to its long-term financing plan and the amount of funds you can access (up to $12,000)
What is the difference between PayPal Credit and Pay in 4?
While both are part of the PayPal buy now pay later financing tools, they are different in several ways:
- Pay in 4 is a b-weekly payment option that allows you to spread payments up to six weeks while PayPal Credit is a monthly payment alternative that you can use to defer payments up to 12 months
- Pay in 4 is totally interest-free but PayPal Credit is only interest-free if you repay in full within six months after which an APR of 29.24%. applies
- The maximum credit you can access with Pay in 4 is $1,500 while PayPal Credit can grant you a credit line of up to $12,000
- The minimum cart value when using Pay in 4 is $30 while that of PayPal Credit is $99
- Pay in 4 does not perform hard credit inquiries hence, does not impact your credit bureau profile but PayPal Credit performs hard credit checks that will appear on your report
By following this guide, you can take full advantage of the PayPal buy now pay later service to make purchases and manage your budget more effectively.
As with any credit option, it is essential to stay on top of your payments and be aware of the terms and conditions associated with it to make the most of these financing tools.
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