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The new offering lets customers space payments over a long period of time, giving them “greater flexibility and even more choices to pay for the items they want and need." Customers can make purchases between $199 and $10,000, dividing the cost into payments over a six-month to two-year period, with the first payment due one month after purchase.
“How consumers look to pay for larger purchases is evolving, and there is a growing demand for flexible payment options with 22 million PayPal customers using our pay later offering this past year,” said PayPal Vice President of Global Pay Later Products Greg Lisiewski in the release. “Pay Monthly builds on our commitment to deliver leading payment solutions that offer customers choice to ensure checkout matches their needs and budgeting preferences.”
https://www.pymnts.com/buy-now-pay-later/2022/paypal-launches-pay-monthly-bnpl-offering
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