PayPal Looking to Take a Bite Out of Apple

Will a new Buy Now, Pay Later product shake up the industry?

Photo by Dainis Graveris on Unsplash

On the heels of an announcement that Apple is entering the Buy Now, Pay Later space, PayPal has announced it is expanding its Buy Now, Pay Later options.

Apple Takes a Bite Out of Buy Now, Pay Later

Techcrunch reports that PayPal will now be offering a monthly payment option in addition to its “PayLater” plan.

“After Apple shook up the Buy Now, Pay Later market with news that it would now be a competitor to established firms, PayPal this morning is introducing another buy now, pay later product to follow the 2020 launch of its “Pay in 4″ installment program. The new offering,

PayPal Pay Monthly,” is designed to give customers a more flexible way to pay, the U.S. payments giant said. Instead of having to pay off purchases over a 6-week period as before, “Pay Monthly” users can break down the total cost into monthly payments over a 6 to 24-month period.”

The announcement of two industry giants adding new elements to the Buy Now, Pay Later game points to…