Pay in 4 and Pay Monthly

In recent years, the rise of buy now, pay later services has made it easier to snag a purchase and pay it off in small, manageable installments. We’ve seen companies, including Affirm, Klarna and Afterpay, rise to the forefront with flexible payment options.

However, significant players, such as PayPal, aren’t keeping quiet. PayPal Pay in 4 and Pay Monthly are here to compete for your wallets, too.

In this PayPal Pay in 4/Pay Monthly review, we look at the financial technology company’s offerings to shoppers and whether they are enough to compete with more recently established buy now, pay later options.

What Are PayPal Pay in 4 and PayPal Pay Monthly?

Shoppers have used traditional credit line offerings, such as credit cards and personal loans, to finance their purchases. Buy now, pay later services aim to make it easier for customers to walk out with purchases the same day while having little to no impact on their credit score or credit report.

Available with supported online retailer partners, PayPal’s buy now, pay later services allow you to choose one of two installment payment options at checkout. Shoppers can use the company’s Pay in 4 interest-free payments or Pay Monthly financing options.

PayPal Pay in 4 will allow you to finance a purchase between $30 and $1,500 into four interest-free payments via your bank account paid biweekly. The first payment is due at checkout, with the remaining three installments due every two weeks.

Alternatively, shoppers can select PayPal’s Pay Monthly service for eligible purchases between $199 and $10,000. This option will enable buyers to pay off their purchase in monthly payments over either six, 12 or 24 months. Interest will apply with an APR between 9.99% and 29.99 %.

How Do PayPal’s Pay in 4 and Pay Monthly Offerings Work?

To begin purchasing with PayPal’s buy now, pay later offerings, you’ll need to shop at a supported retailer. Some big-name retailers that offer such…

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