{"id":30729,"date":"2022-06-06T18:13:23","date_gmt":"2022-06-06T15:13:23","guid":{"rendered":"https:\/\/www.x-cart.com\/?p=30729"},"modified":"2024-12-25T16:07:44","modified_gmt":"2024-12-25T13:07:44","slug":"paypal-pay-later-option-for-online-sellers","status":"publish","type":"post","link":"https:\/\/www.x-cart.com\/blog\/paypal-pay-later-option-for-online-sellers.html","title":{"rendered":"How Does PayPal Pay Later Work For Online Sellers? 7 Benefits of Adopting PayPal Loans"},"content":{"rendered":"\n

Whether you\u2019re a well-established multi-channel retailer or a thriving local online merchant, adding a Buy Now, Pay Later (or BNPL) option can significantly level up your eCommerce game.<\/p>\n\n\n\n

Going by the research conducted by the ZIP finance company, 91% of online sellers report improvements in at least one critical business metric after enabling Buy Now Pay Later, whether that\u2019s revenue, Average Order Value (AOV), conversions, or expanded customer base.<\/p>\n\n\n

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\n \"BNPL<\/picture>
\n Source: ZIP<\/em> <\/figcaption>\n <\/figure>\n <\/div>\n \n\n\n

At the same time, a PayPal study shows that 31% of U.S. retailers offering its ‘buy now, pay later<\/a>‘ solutions say it helps increase sales.1<\/span><\/sup><\/p>\n\n\n\n

To help online sellers perfect their customers’ checkout experience and ramp up conversions, X-Cart widened its arsenal of payment methods <\/a>by offering a new financing option included in PayPal integrations<\/a> at no additional cost. <\/p>\n\n\n\n

This article expands on the PayPal Pay Later plan and gives you five solid reasons to consider making PayPal installment payments a part of your eCommerce sales strategy. <\/p>\n\n\n\n

So, let’s dive right in.<\/p>\n\n\n\n

1<\/sup> Netfluential study of 1000 U.S. PayPal SMB merchants selling directly to consumers through a website or e-commerce platform, commissioned by PayPal, August 2020.<\/span><\/p>\n\n\n

\n What Is PayPal Pay Later? <\/h2>\n\n\n\n

PayPal Pay Later<\/a> is a payment option provided by PayPal payment solution that offers your customers personal loans with a frictionless approval process. <\/p>\n\n\n\n

To use PayPal Pay Later, online shoppers should create a PayPal account or use an existing one in good standing. The Pay Later option is also available to consumers via PayPal App. <\/p>\n\n\n\n

PayPal Pay Later offers two payment plans:<\/strong><\/p>\n\n\n \n \n \n \n \n \n \n \n \n \n \n \n
Pay in 4<\/strong><\/td> Pay Monthly<\/strong><\/td> <\/tr>\n <\/thead>\n
4 bi-weekly interest-free payments
on purchases of $30 to $1500<\/td> 		\n Pay Monthly<\/strong> <\/td>\n 6, 12, or 24 monthly payments
for purchases of $199 to $10,000<\/td> <\/tr>\n
Short-term installment option<\/td> \n Pay Monthly<\/strong> <\/td>\n Medium to long-term installment options<\/td> <\/tr>\n
0% APR<\/td> \n Pay Monthly<\/strong> <\/td>\n APRs from 9.99% to 29.99%<\/td> <\/tr>\n
No origination fees of late fees<\/td> \n Pay Monthly<\/strong> <\/td>\n No origination fees of late fees<\/td> <\/tr>\n
Repay using a debit card, credit card, or confirmed bank account<\/td> \n Pay Monthly<\/strong> <\/td>\n Repay using a debit card or confirmed bank account<\/td> <\/tr>\n
Automatic repayments are set up at time of purchase<\/td> \n Pay Monthly<\/strong> <\/td>\n Automatic payments are an option to set up at time of purchase<\/td> <\/tr>\n
Seller protection and purchase protection are included<\/td> \n Pay Monthly<\/strong> <\/td>\n Seller protection and purchase protection are included<\/td> <\/tr>\n
Included with PayPal Checkout at no additional cost<\/td> \n Pay Monthly<\/strong> <\/td>\n Included with PayPal Checkout at no additional cost<\/td> <\/tr>\n <\/tbody>\n <\/table>\n \n\n\n
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  1. Pay in 4<\/strong> is a short-term loan with no late fees that allows customers to split the purchase into four interest-free payments, while online sellers get paid right away.2<\/span><\/sup> Pay in 4 works within all the U.S. states, excluding Missouri, Nevada, New Mexico, North Dakota, Rhode Island, South Dakota, Wisconsin or any U.S. territories.<\/li>\n\n\n\n
  2. Pay Monthly<\/strong> <\/strong>is a special financing offer for larger purchases. With this newly-launched PayPal payment option, customers can purchase up to $10,000 and spread the costs over 6, 12, or 24 months. Similar to Pay in 4, online shoppers pay over time, while merchants get the full amount upfront.3<\/span><\/sup> <\/li>\n<\/ol>\n\n\n
    \n\n

    Important Note<\/strong>: Online merchants can activate the PayPal Pay Later option<\/a> from their online stores with no hassle and at no additional cost<\/strong> if they have PayPal Checkout integrated into their eCommerce websites.<\/p>\n\n<\/div>\n\n\n

    With a BNPL feature enabled at their online stores, business owners enjoy plenty of opportunities to beat the competition and thrive across their markets.<\/p>\n\n\n\n

    We’ve put together seven of the most significant benefits of adding PayPal Pay Later to your checkout.<\/p>\n\n\n\n

    2<\/span><\/sup><\/sub> About Pay in 4: Loans to California residents are made or arranged pursuant to a California Financing Law License. PayPal, Inc. is a Georgia Installment Lender Licensee, NMLS #910457. Rhode Island Small Loan Lender Licensee.<\/span> <\/p>\n\n\n\n

    3<\/sup> <\/span>Pay Monthly is available Q1 2022. Pay Monthly is subject to consumer credit approval. 9.99-29.99% APR based on the customer’s creditworthiness. PayPal, Inc.: RI Loan Broker Licensee. The lender for Pay Monthly is WebBank.<\/span><\/p>\n\n\n

    \n How Your Online Store Will Benefit From PayPal Pay Later <\/h2>\n\n\n

    \n 1. Increased Overall Sales <\/h3>\n\n\n\n

    The biggest perk that online sellers get with PayPal Pay Later is removing price as a barrier. <\/p>\n\n\n\n

    As a result, online shoppers feel more comfortable moving forward with a purchase, which helps online sellers to:<\/p>\n\n\n\n