PayPal launches tool that allows shoppers to pay in interest-free instalments

PayPal is adding a new tool that will allow shoppers to pay for goods in interest-free instalments in a boost for struggling consumers and online retailers on its payments platform.

The company said “Pay in 3” would be available for purchases between £45 and £2,000 from the end of the month. It explained that the feature allows people to pay for items in three monthly instalments at a time when incomes are squeezed by the COVID-19 crisis.

Source: Sky News
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