HOW BUY NOW PAY LATER OPTIONS WORK
How Paypal credit and afterpay work.
Paypal Credit FAQs
What is Paypal Credit?
PayPal Credit is an open end (revolving) credit card account that provides a reusable credit line built into your account with PayPal giving you the flexibility to pay for your purchases right away or pay over time. It’s easy to apply, easy to use and there whenever you need it. PayPal Credit is subject to credit approval and is offered by Synchrony Bank.
About Paypal Credit?
PayPal Credit is a reusable credit line available on purchases at millions of stores that accept PayPal. Plus, it comes with the same security and flexibility you trust from PayPal.
If approved, we start you off with a minimum credit line of at least $250. See FAQs for more info.
For New Accounts: Variable Purchase APR is 23.99%. The APR is accurate as of 3/1/2022 and will vary with the market based on the Prime Rate (as defined in your credit card agreement). Minimum interest charge is $2.00. See Terms and Conditions Tab for more info.
If you miss a payment your late fee could be up to $41, even less if it’s your first time. See FAQs for more info.
Applying for PayPal Credit - How do I apply for PayPal Credit?
When you apply for PayPal Credit, you’ll be asked to provide your date of birth, your income after taxes, the last 4 digits of your Social Security number, and agree to the Terms and Conditions. You’ll know within seconds if you are approved. And here’s the cool thing: your PayPal Credit account will be linked to your account with PayPal and you’ll see it as a payment option every time you check out with PayPal.
What if I do not current have an account with PayPal?
You will need an account with PayPal to apply for PayPal Credit. Once you've signed up for PayPal, you can begin the application for PayPal Credit. Signing up for PayPal is free.
Sign up for PayPal and apply for PayPal Credit.
What does 'subject to credit approval' mean?
Synchrony Bank will review and consider your credit report and other information prior to opening your account and establishing your credit line. This process usually happens in a matter of seconds as part of the PayPal Credit application process.
How do I use PayPal Credit?
To use PayPal Credit, simply checkout using PayPal and select PayPal Credit as your payment method. Learn more about how to use PayPal Credit.
Where can I use PayPal Credit?
You can use PayPal Credit at millions of stores online where PayPal is accepted.
Why should I use PayPal Credit for my PayPal purchases?
Enjoy No Interest if paid in full in 6 months on purchases of $99.00 or more when you check out with PayPal and pay with PayPal Credit. Interest will be charged to your account from the purchase date if the balance is not paid in full within 6 months. Minimum monthly payments are required. See terms, learn more about the benefits of PayPal Credit.
Can I use PayPal Credit for purchases less than $99
Yes, PayPal Credit is a reusable credit line and can be used for purchases less than $99.00.
If you pay your balance in full each month by the payment due date that is on your statement, you can avoid paying interest.
We’ll send you email reminders when your payments are due. You can also keep track of your account and view your statements online at any time.
You can also make minimum monthly payments, or any additional amount of your choosing until you’ve paid off your balance according to your standard account terms. Please note, that interest charges may apply.
Purchases of $99+
Interest will be charged to your account from the purchase date if the balance is not paid in full within 6 months.
A minimum monthly payment is required and may or may not pay off the promotional purchase by the end of the 6 month period.
No interest will be charged on the purchase if you pay it off in full within 6 months. If you do not, interest will be charged on the purchase from the purchase date at the Purchase APR applicable to your account.
For New Accounts: Variable Purchase APR is 23.99%. The APR is accurate as of 3/1/2022 and will vary with the market based on the Prime Rate (as defined in your credit card agreement). The minimum interest charge is $2.00.
Individual items that are less than $99 qualify for special financing when combined for a total of $99 or more in a single transaction.
Multiple separate transactions of less than $99 per transaction cannot be combined to meet the minimum purchase amount.
Can I use PayPal Credit to send money?
Yes! When you use the PayPal to send money, select PayPal Credit as the payment method. You may need to change the payment method if PayPal Credit isn’t already set as your preferred payment method. When you use PayPal Credit to send money in US dollars (USD), you’ll be charged the same fee that’s charged when you use a debit or credit card to send money with PayPal. Learn more about our fees.
How do I link my PayPal Credit account to my PayPal account?
Linking your account is easy. You can link your PayPal Credit account to an existing account with PayPal if you have one. Don't have an account with PayPal? Signing up for PayPal is free.
How do I pay my PayPal Credit bill?
At any time, you can choose to make a one-time payment or schedule automatic payments towards your balance due. You can pay from either your PayPal Balance Account, or your linked bank account conveniently on PayPal.com.
You can also mail your payments to:
PayPal Credit
P.O. Box 960006
Orlando, FL 32896-0006
Or, you can call our customer service department at 1-844-373-4961 to make a payment.
Note: When mailing a payment, please make sure you include your PayPal Credit account number or payment stub.
Is there a fee for late payments
Yes, you will be charged a late fee for each month the minimum payment is not paid by the payment due date. An explanation of the Late Payment Fee is provided in the current version of the PayPal Credit Terms and Conditions.
The Late Fee is equal to:
- $30.00, if you have paid your minimum payment due by the due date in each of the prior six billing cycles; OR
- $41.00, if you have failed to pay your minimum payment due by the due date in any one or more of the prior six billing cycles.
Does PayPal Credit protect me from liability for unauthorized charges?
You will not be liable for unauthorized use on your account, but you will be responsible for all use by anyone you allow to use your account. If your account is used without your consent, call us immediately at 1-844-373-4961
What is payment security?
Payment Security is an optional purchase that can cover your minimum monthly payments or entire PayPal Credit balance up to $10,000 after certain qualifying life events. You may cancel at any time. Whether or not you purchase Payment Security will not affect your credit terms of any existing credit card agreement you have with us. See Payment Security Program Agreement for more details.
Afterpay FAQs
What is Afterpay?
Afterpay gives shoppers the flexibility to pay 25% today and split their purchase into 4 interest-free payments, due every 2 weeks. Full eligibility criteria available at www.afterpay.com. It’s already available online, and now in participating doors.
How does Afterpay work?
When customers are ready to check out at participating retailers, they select Afterpay as their payment method. The customer pays 25% of the purchase total today. Afterpay settles with the retailer upfront. The customer then owes the remaining interest-free payments to Afterpay, which are automatically debited from their account every two weeks.
Zero Interest and No Fees when you pay on time
Afterpay does not charge interest on a customer’s purchase. There are no late fees when payments are made on time. If a customer misses a payment, they may be charged a late fee. They should refer to their Afterpay Installment Agreement for full terms and to learn more.
Who can sign up for Afterpay?
Introduce and explain Afterpay equally to all customers who express interest.
To sign up for Afterpay, certain eligibility requirements apply, including:
To sign up for Afterpay, certain eligibility requirements apply, including:
- Be at least 18 years old (19 in Alabama or if a ward of the state in Nebraska)
- Provide a valid telephone number and email address
- Be a US resident who resides in one of the 50 states or the District of Colombia
Additional requirements can be found on www.afterpay.com
Easy Sign Up and Instant Approval Decision?
It’s free to create an account and Sign up for Afterpay. Afterpay works with Visa, MasterCard, andAmerican Express cards (debit or credit).
Not every purchase is guaranteed approved. If a customer has questions, direct them to the Afterpay Installment Agreement or www.afterpay.com
How do you use Afterpay in store?
Customers can shop with Afterpay today! It only takes a few moments to get started.
1. Download the free Afterpay app from the Apple AppStore or Google Play Store.
2. Log in or create an Afterpay account.
3. Tap the Card tab in the app and follow the guided steps for the one-time set up process to add the Afterpay Card to your Apple Wallet or Google Wallet.
4. At check out, launch the Afterpay app, tap into the Card tab to see your pre-approved spend. Click ”Pay with Afterpay Card” button to access the Afterpay Card and launch it in your digital wallet.
5. Tap your phone to the chip reader and you’ll receive a confirmation of your purchase in the app.
What if I need to return my purchase made with Afterpay?
1.Afterpay returns work within your company’s return policy. If a customer wants to return a purchase and it meets eligibility requirements for the funds to be restored to the original form of payment, process the return as you would for any other credit return. The customer may initiate the return through the Afterpay app:
1. Launch the Afterpay app and tap into the “Orders” tab
2. Find and open the order you’d like to return and tap“Return an In-Store Purchase” button.
3. Tap the button for “Apple Pay” or “Google Pay” to access the Afterpay Card.
4. Tap the phone near the chip reader to initiate the return. Print and give the customer the receipt confirming the return. The funds will be restored to the original payment method within 3-5 business days.
*Note: As a security and privacy measure, the last four digits of the card shown on the receipt will not match the last four digits of the Afterpay Card in the wallet. If you need to verify the card, ask the customer to complete the following steps to view the last four digits shown on the receipt:
Apple Phone
1. Open the Settings App
2. Scroll down to Wallet & Apple Pay
3. Tap the Afterpay Card to reveal last four digits
Android
1. Open the Google Pay app
2. Go to payment
3. Tap on the card number, then scroll to "Virtual Card Number"
Why am I having trouble making a purchase with Afterpay?
If customers are having issues using Afterpay in your store, you should instruct them to reach out to Afterpay Customer Service:
- In App Chat - it’s the quickest way to get a hold of us
- Afterpay Customer Service Phone: 1.855.289.6014
(Mon - Fri 7am - 7pm CST, Sat 7am - 6pm CST)
- Afterpay FAQs on www.afterpay.com
That being said, here’s a couple General Troubleshooting Tips to help customers in the moment:
- Ensure they are connected to WiFI or using data so the Afterpay Card can be activated in the app.
- Make sure that the payment method saved in their Afterpay app is current and correct.
- Did the customer access the Afterpay Card through the Afterpay app? It is essential that the customer click “Pay with Afterpay Card” to activate the Afterpay Card. If the customer opens the Card directly from their wallet, the Card will not activate, and the purchase will not be successful.
- Does your store have a minimum or maximum purchase amount for Afterpay? Make sure those requirements have been met.
If the customer is still having issues using Afterpay, direct them to Afterpay Customer Service.
Where can I use Afterpay to make a purchase in store?
Participating stores are featured in the Afterpay app and on the Afterpay website in the Stores section. Stay tuned – more stores are coming soon!
How does Afterpay work with split tender payments and returns?
Split tender payments work as they would with any other transaction. Start the transaction, select the amount the customer wishes to pay with Afterpay, and then they will tap their Afterpay Card to the chip reader to transact. The remaining amount owed can then be paid with the customer’s other payment method.
When a customer returns a split tender order, scan the receipt and verify with the customer the amount paid in the secondary form of payment (cash, credit, debit). Refund this payment method first. After you have refunded that amount, restore the amount paid with the Afterpay Card by asking the customer to tap their Afterpay Card at the NFC chip reader. Afterpay will restore funds to the customer’s original payment method within 5-7 business days. If the customer has questions, encourage them to contact Afterpay Customer Service
Prohibited Terms
The following statements are NOT permitted by Afterpay to say to customers:
- No Cost
- No Fees
- Instant Approval
- No Catch
- No Cards
- No Credit Check
- No Hidden Fees
- No Down Side