PayPal introduces on-line finance options

PayPal is now offering consumers more ways to pay online with PayPal Pay Later, a new service that allows merchants to offer promotional financing. Buyers that choose the promotional offer can defer payments for purchases on participating merchant web sites, allowing them to shop now and pay later.

The PayPal Pay Later service allows online merchants to offer a transactional credit account with flexible financing options to buyers at check out – even if a buyer doesn’t have a PayPal account. Financing options, such as no payments for 90 days, give merchants new and powerful ways to market to online shoppers.

“PayPal Pay Later makes offering PayPal even more attractive to merchants because it gives them yet another way to drive sales,” said Stephanie Tilenius, vice president and general manager of PayPal Merchant Services. “And consumers get instant purchasing power because they can buy when they want and pay for it later – all with the peace of mind that they don’t have to share credit card information over the Web.”

The PayPal Pay Later service is issued by GE Money Bank and is currently available to consumers and select merchants in the U.S.