PayPal vs Klarna: US payment giant launches rival ‘buy-now, pay-later’ service
Another option of how to pay, later.
The US payments group announced a handful of launch partners including Crew Clothing, French Connection and Robert Dyas who will be rolling out the service in the UK from late October.
“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,” said PayPal’s UK director of enterprise accounts Rob Harper.
“We have developed PayPal 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 2m customers to date.”
Harper pointed to the upcoming months of Christmas shopping and Black Friday on 27 November as two reasons as to why PayPal had chosen to launch its consumer credit offering now.