PayPal today announced the launch of PayPal Pay in 3, enabling UK businesses of all sizes to offer buy now, pay later payments without taking on additional risk or paying additional fees. The timing is great as we approach Black Friday in the year of a pandemic.
If you already offer PayPal on your website, this appears a bit of a no brainer. There are going to be a lot of consumers who have reduced incomes due to the pandemic and this will enable them to spend beyond their immediate income for Christmas and worry about how to pay for it in the New Year, which let’s be honest is what consumers have done with credit cards for years anyway. In the mean time you get paid in full up front.
Through PayPal Pay in 3, businesses can offer their customers the option of making purchases between £45 and £2,000 by paying over three, interest-free payments, with seamless automatic re-payments each month. PayPal Pay in 3 will also appear in the customer’s PayPal wallet, so they can manage their payments online or via the PayPal app.
PayPal Pay in 3 will help businesses drive checkout conversion, revenue and customer loyalty, with the option included in the business’s existing PayPal pricing, paying no additional fees to enable it for their customers. PayPal will pay the business or retailer upfront for the full cost of the purchase. This soun
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