PayPal's new service lets you buy now, pay up to two weeks later

[Shawn Knight]

If you’ve ever found yourself in a situation where you really want to order something online but won’t have the funds until payday, PayPal’s latest service is calling your name.

With Pay After Delivery, buyers can elect to wait and pay for goods up to 14 days after the initial purchase on items valued at up to $10,000. The merchant still gets paid immediately via PayPal so in essence, PayPal is offering buyers an interest-free, two-week line of credit.

To use Pay After Delivery, users must have a valid checking account linked to their PayPal account. Once the 14 day period is up (or sooner, if the buyer chooses), PayPal will debit the money due from the linked bank account. In the event of insufficient funds, PayPal will then attempt to get the money from a user’s PayPal balance, a credit card or an alternate debit card.

PayPal is marketing it as a way to receive an item and make sure it’s what you ordered. The idea is to give customers the same level of confidence that they get when shopping at a physical store.

It may not seem like a big deal but as you’ve no doubt witnessed, the world of mobile payments is getting awfully crowded with services like Google Wallet – and more recently, Apple Pay – joining the fray. If the feature catches on, it could be a positive differentiator for the popular payments platform.

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https://www.techspot.com/news/58684-paypal-pay-later.html

 

[Skidmarksdeluxe]

This is the type of thing that gets a lot of people into the brown stuff. The interest free advance from PayPal can come in handy now and then but just make sure you have the necessary funds available when cough up time comes. It's a service I'd never use but it is nice of PayPal to offer it.

 

[TheDreams]

I had just went to purchase something with paypal, and something of this nature was on the screen. Not a bad idea.

 

[BlueDrake]

This has been around actually on the site for a while, just now they want to promote it. Supposed to be up to 21 days, could be revamped for this service though. I lashed out at PayPal when they double dipped twice, on my account in the span of 3 days. In essence it was 6 charges in the span of just that week, which prompted a month long battle. I got everything refunded, and they took care of their negative balance. Since I got no replies via email or phone, and finally in the end responded to Twitter questions.

Just when dealing with this stuff, keep an eye on your account. In the case you have not enough funds, they could do a double dip and you'd be fighting with them over it. I understand the whole right to try getting funds again, in x days but in the same week it really hurt. While it's good in essence, remember not to do too much all at once.

 

[Guest]

It seems that fraudsters will try to take advantage of this.

 

[Littleczr]

Looks like they are trying to target men in their early 20's with no credit.

 

[captaincranky]

My credit cards let me pay pretty much whenever I feel like it.

Would this Paypal scheme be better for me......? Help me out here....!

 

[Guest]

Paypal is interest free for two weeks, credit card isn't ;-)

 

[tonylukac]

Reminds me of layaway when I worked at kmart in la. Actually used it. Next step is to extend credit like a credit card.

 

[Emexrulsier]

This feature has been available in the UK for easily a year. I have always used it on ebay and Dominios accept paypal meaning I can get pizza if I am skint