PayPal has launched its PayPal Credit feature in the UK, you can now use your PayPal account in a similar way that you would use your credit card.
PayPal Credit will allow you to spread the costs of online payments and if your payment is over £150 then it will be available with 0 interest.
The service has been available in the US since 2014, the UK is the first country to get the new payment option outside of the US.
The interest free option is available if you pay back the money you borrowed within four months, after that PayPal will charge you 17.9 percent after that.
In order to use the service on your PayPal account you will need to apply and be approved, after that the PayPal Credit option will be shown on your account as one of the payment options.
The company has also teamed up with a range of retailers that will offer promotional interest rates with interest free available for longer than four months, these include Samsung, Dyson, Millets, Simply Games, Ultimate Outdoors, Chain Reaction Cycles and Blacks.
Source TechCrunch
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