Buy now pay later is something that is becoming very popular with online purchases and many vendors are opening up services to offer this to their customers. One such service that is available to a wide group of internet users is PayPal Credit. This service is different from a lot out there as it is initiated by the end-user and tied to their PayPal account versus being a service partner of the vendor. It’s a great choice of buy now pay later services for consumers without credit cards, or who do not wish to supply information to a vendor they are not familiar with.
What is PayPal Credit?
PayPal Credit is a service that is offered to those who have an account with PayPal. Your PayPal credit account is a virtual line of credit, which you can use similar to a credit card. Online purchases made with this reusable credit line can be paid for in installments rather than one lump sum upfront payment.
Users must apply for the service and once approved will be given a line of credit with a minimum value of $250. Once approved users can use this line of credit for purchases wherever PayPal is accepted, both online and brick and mortar locations.
Why Use PayPal Credit?
As a Junipurr Jewelry customer, there are several benefits to using PayPal Credit.
- You can buy more stock now, and pay for the order installments. This will help get jewelry into the hands of your customers without all of the upfront costs.
- Simplified checkout process similar to the regular PayPal checkout.
- It offers a line of credit for people who may not have a credit card.
What Countries is PayPal Credit Available In?
Currently, PayPal credit is available in the United States of America, the United Kingdom and Germany. Your account must be registered and verified in one of the above countries in order for you to be able to apply for PayPal Credit
How Does PayPal Credit Work?
Users who are approved for PayPal Credit may use it like they would a credit card if the vendor does accept PayPal as a method of payment.
Purchases of $99 or more
- No interest if paid in full within 6 months of original purchase date
- A minimum monthly payment is required
- Variable Purchase APR is 25.49%. The APR is accurate as of 03/01/2020 and will vary with the market based on the Prime Rate (as defined in your credit card agreement). The minimum interest charge is $2.00 if not paid in full within 6 months.
Purchases of $98.99 or less
- If you pay your balance in full each month by the payment due date that is on your statement, you can avoid paying interest.
How Do I Apply for PayPal Credit?
To apply for PayPal Credit, please use their forms located at the following link:
PayPal Credit and Junipurr Jewelry
If you are a Junipurr Jewelry approved vendor we are happy to announce that we are accepting PayPal credit as a form of payment. We are hoping that the ability to buy now pay later will help our consumers with their purchasing decisions and aid them in getting our jewelry into the hands of their customers.