We have seen a massive increase in the usage of buy now, pay later services in Australia in the last few years and today PayPal has announced that they are entering the game here in Australia with the launch here of PayPal Pay in 4.

PayPal Pay in 4 is entirely free of any PayPal fees with no late payment fees — something that PayPal says prevents 50% of people from using buy now, pay later services. Credit checks are still required to use the service and those credit checks are performed by an external credit bureau. Only those with a PayPal account “in good standing” will see the PayPal Pay in 4 purchase option at checkout for purchases between $30 and $1,500.

To use the service when you select the PayPal option at checkout you will see it as the payment option within your PayPal wallet. Businesses also have the option to present a PayPal Pay in 4 payment option directly “clickable” on their website. As the PayPal Pay in 4 option appears in your PayPal wallet customers can use it at hundreds of thousands of Australian and millions of global online retailers.

With PayPal Pay in 4 not only do you get PayPal’s security and protections, but eligible purchases are covered by PayPal’s Buyer Protection — if the item does not arrive PayPal can refund the purchase price (and shipping).

“We are launching with no late fees in Australia because we believe it’s the right thing to do for our customers and will deliver a better consumer experience. We are backing the strength of our systems to determine consumer suitability for PayPal Pay in 4 and we believe we have the right measures in place to support our no late fees approach,” said Andrew Toon, General Manager, Payments, PayPal Australia.

PayPal Pay in 4 is available for business customers to integrate into their websites at no additional cost beyond existing account arrangements so if you have an online business it is something certainly worth considering.

With so many Aussies doing it tough, it’s great to see a buy now, pay later option with zero late payment fees launch here in Australia. If you need to use a buy now pay later option, why not choose PayPal Pay in 4 next time you checkout? To learn more about PayPal Pay in 4 here.