What is PayPal Pay in 3?
PayPal Pay in 3 is PayPal’s buy now, pay later service that lets you split your online shopping basket into three interest-free manageable payments.
PayPal says you can use PayPal Pay in 3 for eligible shopping cart amounts between £30 and £2,000 at most online retailers that accept PayPal.
How does PayPal Pay in 3 work?
At the checkout, just choose to pay with PayPal, log in to your PayPal account and you should then see PayPal Pay in 3 as one of the available payment methods. After selecting it, you can apply for a PayPal Pay in 3 plan, get an instant decision and finish checking out.
You’ll need to pay the first instalment at the time of purchase and then the two following payments will be on the same date in the two subsequent months.
Features of PayPal Pay in 3
- No fees.PayPal is free to use. If you’re late with a payment, the late payment fee is £0.
- Zero interest.PayPal Pay in 3 doesn’t charge any interest on the total amount.
- Automatic payments.The second and third instalments will be automatically taken each month from your bank account by PayPal Pay in 3.
- Easy split.PayPal Pay in 3’s simple payment plan splits the total into three equal instalments.
- Payment reminders.You’ll be sent an email or SMS reminder to let you know when your next payment is coming up.
- Buyer Protection.You’ll be covered by PayPal Buyer Protection on eligible PayPal Pay in 3 purchases.
- Multiple currencies.You can pay in all currencies that PayPal supports, not just GBP.
How much does PayPal Pay in 3 cost?
There are no fees for choosing to pay with PayPal’s buy now, pay later scheme. If you’re late with a payment, PayPal won’t charge any late payment fees.