PayPal Launches Bill Me Later Clone For Ecommerce Websites

[mandy]

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

[regic]

Research commissioned by eBay showed that 56 percent of PayPal users are more likely to buy from a retail site if a deferred payment option is available

http://news.com.com/PayPal+offers+pay+la...00312.html

[bargainbloodhound]

I like the idea especially on higher priced items BUT a) only 3% of our sales went through PayPal last month (merchant was 92%, google checkout 4%, echeck 1%) and I doubt if very many of our  customers would switch to PayPal to take advantage of the offering b) PayPal's higher fees make any PayPal offering unattractive c) ditto for PayPal's weak fraud protection compared to my merchant account.

[amy]

only 3% HUH?of our sales went through PayPal last month (merchant was 92% CORRECT, google checkout 4% HUH? , echeck 1%HUH? )

: : :

Add much? I'm showing echeck $700, google checkout $400, paypal $200 for last month.