08-02-2007, 10:27 AM
Quote:PayPal launched a new service for ecommerce websites called PayPal Pay Later that allows merchants to offer promotional financing to shoppers. Buyers that choose the promotional offer can defer payments for purchases on participating merchant websites, allowing them to "shop now and pay later." The service is similar to Bill Me 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. PayPal Pay Later's first offering, which gives buyers "no payments for 90 days," is free for merchants, who receive 100 percent of the money immediately upon completion of a transaction. PayPal will offer merchant-customizable options in the future in which merchants would pay some fees...
full article: http://www.auctionbytes.com/cab/abn/y07/m08/i02/s01