PayPal UK launches buy now pay later solution
PayPal is taking on the likes of Klarna and Laybuy with the launch of Pay in 3, which allows UK shoppers to pay for purchases between £45 and £2,000 in three interest free instalments.
Retailers including Crew Clothing, French Connection, Robert Dyas and Ryman are integrating the solution, which will be available from late October.
Rob Harper, UK Director of Enterprise Accounts at PayPal, says: “During the coronavirus pandemic, we have seen the number of people in the UK shopping online increase dramatically. At the same time, many more consumers are looking to spread the cost of those purchases.”
“We have developed Pay in 3 to meet that need, building on our heritage as a responsible lender through PayPal Credit, which we launched in the UK in 2014, and has served more than two million customers to date.”
He concludes: “Pay in 3 offers a flexible way for over 24 million PayPal users to shop while providing companies with a tool that helps drive sales, loyalty and customer choice.”
