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PayPal will launch its
Pay in 4’ in Australia in early June this year.
The option will roll out to PayPal’s 9 million Australia accounts, ready for use by the end of financial year sales. Pay in 4 will be automatically included and integrated with the usual PayPal checkout. It will be interest-free for consumers and comes at no extra cost to existing PayPal business customers. Businesses will have an option to display the payment option on their website.
The buy now pay later (BNPL) option has been growing steadily in Australia, particularly among young consumers. Since the pandemic, ecommerce has continued its boom locally, with many shoppers moving online for the first time. In fact, a report from Aus Post says that online purchases in January 2021 grew 44 percent year-on-year.
PayPal has signalled it will launch its 'Pay in 4' instalment product in Australia in June. The product will offer a buy now, pay later option to its nine million local customers on eligible transactions between $50 and $1500.
PayPal enters Aussie BNPL arena, with no additional fees for merchants
March 10, 2021
International fintech giant PayPal has shown its hand in the Aussie buy-now, pay-later scene, announcing plans to launch a deferred payment option at the checkout for its Australian merchants.
The PayPal Pay in 4 solution launched in the US, the UK and France last year, and is expected to be available for all 9 million Australian PayPal customers by early-June, 2021 just in time for end of financial year sales
Andrew Toon, general manager for payments at PayPal Australia, tells
SmartCompany the new offering comes as a response to demand from business customers Down Under.
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