PayPal brings payments up to 24 installments to Italy
Just in time for the shopping season, PayPal announces a new feature for Italy (and Spain): it allows payments to be made in up to 24 installments . The Buy Now, Pay Later option is favored by a growing number of users who want to spread out their spending over time.
Pay in 6, 12, or 24 installments with PayPalSpecifically, as stated in the press release, the company no longer allows customers to choose only the 3-payment option, but also 6, 12, or 24 installments. In this case, however, it's important to consider the interest rates , which vary based on the amount, term of the loan, and the customer's profile. Availability may not be immediate: it's currently being rolled out and will be available to everyone within the next few weeks.
There are no particular restrictions, other than the minimum and maximum spend . Specifically, in Italy this new method can be selected for purchases between €60 and €5,000 (up to €2,999 in Spain). Below are the words of Maria Teresa Minotti, Vice President and General Manager Southern Europe at PayPal.
We've seen strong growth in demand for flexible payment solutions across Europe. With Pay in 6, 12, or 24 installments, we're extending the reach of a trusted platform like PayPal to consumers and merchants in Italy and Spain, offering them new ways to pay and receive payments. This launch is a natural step in our vision of making shopping and managing finances simpler, safer, and more accessible.
It's worth noting that with the new BNPL plan, available in 6, 12, or 24 installments, the first payment is due one month after purchase. It must be made with a debit card or verified bank account (not a credit or prepaid card). There are no late payment fees.
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