PayPal Launches Extended Pay Later Option in Germany
PayPal is launching an extension to its Pay Later option in Germany with its Payment After 30 Days service that enables users to pay for purchases up to 1,000 euros ($1115) in 30 days without incurring any additional costs, according to a press release on Thursday (Jan. 27).
The purchase amount is automatically direct debited after 30 days without customers having to remember to do a bank transfer. Customers are alerted by email of upcoming debits, and all details are transparent in their PayPal account regarding due dates and outstanding balances. People can also pay before the 30 days is up.
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"With the introduction of Payment after 30 days, we want to provide our customers with another simple, flexible and secure solution for online shopping. We see ourselves as a partner to our customers and support responsible purchasing behavior,” said Jörg Kablitz, managing director of PayPal Germany, Austria and Switzerland.
“For us, this includes offering customers transparency and an overview of outstanding payments, as well as carrying out credit checks for all Pay Later transactions and waiving late fees worldwide. For us, the focus is on long-term customer satisfaction across our entire product range,” Kablitz added.
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The extended Pay Later service offers eligible online shoppers in Germany more flexibility with Payment after 30 days. To use the option, users just have to select “Payment with PayPal” while checking out; after being directed to PayPal, they can select “Payment after 30 days” and complete the process.
A new update will allow customers to change their payment due date before the 30 days is up by paying a small fee. There’s no fee for purchases up to 20 euros ($22.31). The fee for larger purchases will be clearly displayed before the customer decides to go for an extension.
This new option combines the advantages of the two most popular online payment methods in Germany — PayPal and purchase on account.
PayPal has over 325 million accounts around the globe and is available in 202 countries and 25 currencies. Launched in 1998 and headquartered in San Jose, California, PayPal facilitates global eCommerce by making payments possible across different locations, currencies and languages.