Morning Consult State of Banking Q1 2022 (2200 US Adults) Terms and availability may vary based on the merchant and purchase amount and may not be available in all states. The APR is 0 - 29.99% based on consumer credit eligibility.
Pay Monthly is subject to credit approval. Similar to Pay in 4, merchants can also add dynamic messaging to deliver relevant Pay Later options that are presented early in the customer's shopping journey to let them know they will have the option to spread out payments at checkout. Pay Monthly will be automatically available for merchants at no additional cost or risk and requires no complex back-office integration to add as a payment option. Pay Monthly continues a tradition of transparent point-of-sale lending products and leverages over a decade of experience working with bank partners who underwrite loans to improve the checkout experience and best match loan approvals with customer purchases through various macroeconomic conditions. Since 2004, PayPal has partnered with banks to provide industry leading credit products, allowing millions of consumers the ability to spread out payments over time. Customers will have the option to select Pay Monthly for their shopping needs at millions of retailers including brands like Outdoorsy, Samsonite, Fossil, and Advance Auto in time for their summer purchases and activities With Pay Monthly, customers can select between using their debit card or bank account for repayment and seamlessly manage and track payments through the PayPal app and online. Plus, consumers have the peace-of-mind that comes with knowing their purchases are backed by PayPal Purchase Protection. The pay later products through PayPal, including Pay Monthly and PayPal Pay in 4, have no late fees and allow consumers to choose their repayment method and select automatic payments up front when completing their transaction. "Pay Monthly builds on our commitment to deliver leading payment solutions that offer customers choice to ensure checkout matches their needs and budgeting preferences." "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 Greg Lisiewski, Vice President of Shopping and Pay Later at PayPal.
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