PayPal has this week announced the launch of a new credit service.

Called PayPal Credit, it offers no interest credit for online purchases over £150, as long as you pay off the balance within a four month period.

This would apply yo all online purchases at that value or above, for purchases below £150 or balances that last longer than the four month period will be set at the standard rate, which is currently 17.9 percent interest per annum.

Cameron McLean, managing director of PayPal UK explained more:

“For consumers, it’s about giving them more choice and convenience when shopping online. For businesses, we are enabling them to grow and offer their customers greater payment flexibility.”

“It’s a sign of things to come. As a newly-independent company, we will continue to partner with retailers to find new, improved ways for people to pay.”

PayPal has also partnered with other services like Blacks, Chain Reaction Cycles, Dyson, Millets, Samsung, Simple Games and Ultimate Outdoors to offer longer installments, with payment plans of 6,12,18 and 24 for example.

This would be chosen at the checkout of the partner.

You can sign up to Paypal Credit today if you are an existing or new PayPal customer, to do so hit up the source link.

Source: PayPal Credit

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