Weve seen companies, including Affirm, Klarna and Afterpay, rise to the forefront with flexible payment options.
However, significant players, such as PayPal, arent keeping quiet.
PayPal Pay in 4 and Pay Monthly are here to compete for your wallets, too.
Looking for another buy now, pay later service? Read our reviews ofKlarna,Afterpay,AffirmandSezzle.
What Are PayPal Pay in 4 and PayPal Pay Monthly?
Shoppers can use the companys Pay in 4 interest-free payments or Pay Monthly financing options.
The first payment is due at checkout, with the remaining three installments due every two weeks.
7 Ways to Make Money if You Hate People
Do you avoid people too?
Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
Alternatively, shoppers can select PayPals Pay Monthly service for eligible purchases between $199 and $10,000.
Interest will apply with an APR between 9.99% and 29.99%.
How Do PayPals Pay in 4 and Pay Monthly Offerings Work?
To begin purchasing with PayPals buy now, pay later offerings, youll need toshop at a supported retailer.
This makes it one of the least flexible buy now, pay later services we reviewed.
Shop as you usually would, adding any desired products to your cart.
When ready, head to your cart to begin the PayPal checkout process.
Select PayPal as your payment method.
Select one of these two choices to begin the checkout process with financing.
If approved, you may be asked additional questions.
Select which is most favorable for you.
Current purchases will appear under Active Plans, while paid-off loans will be under Plan History.
We particularly like thatPayPal includes purchase protectionwith every buy now, pay later purchase.
Additionally, PayPal does not charge sign-up or late fees for using its finance offerings.
Other Buy Now, Pay Later Services
There are several other buy now, pay later services.
We have reviewed quite a few, includingKlarna,Affirm,AfterpayandSezzle.
We have a selection of thebest personal loan lendersavailable for those who may wish to go down that road.
If you are entirely new to personal loans, check out ourstep-by-step guide on obtaining a personal loan.
If you do not have a PayPal account, you will need to open one to apply for financing.
PayPals Pay in 3 financing service is available to buyers in the U.K.
If you are located in the United States, the equivalent offering is PayPal Pay in 4.
Michael Archambault is a senior writer for The Penny Hoarder specializing in technology.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
