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EBay offers PayPal Pay Later service in US

16 May 2008  |  2270 views  |  0 Source: PayPal

PayPal Pay Later, a convenient and secure credit service, is now available for payments on eBay.com (Nasdaq:EBAY). Starting today, eBay buyers in the United States can take advantage of Pay Later's financing offer of no payments for 90 days for qualifying purchases between $50 and $199.

With Pay Later, buyers now have more ways to pay for items at checkout and can use Pay Later even if they don't have a PayPal account. The streamlined application can be completed in 30 seconds and provides a buyer with instant access to credit.

Sellers also benefit through increased sales and higher selling prices. According to a study conducted by Northstar Research Partners commissioned by PayPal, 56 percent of PayPal users are more likely to purchase from a merchant if a PayPal deferred payment option is available.1 Pay Later purchases are the same as regular PayPal purchases: the sellers are paid quickly, and standard PayPal fees apply. Sellers who accept PayPal on eBay will automatically offer the Pay Later payment option.

"We are excited to give eBay buyers even more ways to pay for items on eBay with the security and convenience of PayPal," said Chris George, senior director of financial products at PayPal.

PayPal Pay Later is issued by GE Money Bank, one of the world's leading providers of consumer credit.

"eBay buyers will find deferred payments to be an extremely easy way to buy what they really want now and plan their payments in a way that best fits their budgets," said Margaret Keane, president and chief executive officer, GE Money - Retail Consumer Finance. "PayPal Pay Later is another great example of how eBay and PayPal are making online shopping safer and easier for consumers."

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