Paypal is entering the buy-now-pay-later space in Australia, launching a product that will see it compete with boom services such as Afterpay and Zip.
Automatic repayments are drawn every two weeks, and the service is only available for purchases valued between $50 and $1500.Automatic repayments are drawn every two weeks, and the service is only available for purchases valued between $50 and $1,500. "Our Australian business customers have been requesting buy now pay later functionality from us, and we're excited that we can offer PayPal Pay in 4 to them at no additional cost," Mr Toon said.Andrew Toon, General Manager of payments at PayPal Australia, said the service will come at no cost to consumers.
"We will continue to support Australian businesses of all sizes to adapt to rapidly changing consumer behaviours by evolving our service to meet their needs."