PayPal credit card also admits converting gift cards to cash with few conditions. The Preferred Account is similar to the concept of a charge card - that can be used at a particular merchant only. The business owner would apply for Bill Me Later Business - using data like EIN etc.
In Bill Me Later Business, the users are business owners who want to use the equivalent of a corporate card for buying products and services over the web. New merchants can request integration through a website operated by the company.īesides its flagship consumer service, Bill Me Later also offers Bill Me Later Business (As of Bill Me Later Business has been discontinued) (seen at USPS) and Preferred Account (seen at Newegg). Unlike its parent company PayPal which is available to most e-commerce entities, Bill Me Later isn't available to most businesses. Purchases not made through the PayPal wallet will only receive promotional financing if the merchant is offering it.ĭevelopers/new merchant integration If they don't, then they are charged interest at a 19.99% APR starting from the original purchase date. Terms įor purchases of $99 and over that are made through PayPal wallet, customers have 6 months to pay their bill in full. Much like a traditional credit card, the company will charge late payments if necessary. PayPal Credit is not a credit card but a revolving line of credit offered by Synchrony Bank. In cases when they are declined and they don't receive declined email/letter, they can contact PayPal Credit Customer Service to check if it was not a system issue. Customers also get an email whenever they are declined. Once the PayPal Credit account is linked to PayPal, it becomes a funding option within the PayPal account and gives the option to pay off the PayPal Credit balance. The approved customer can then pay the bill by mail (check), phone or online (via bank account) at PayPal official website. Īfter customers open their accounts (including credit check), PayPal Credit asks customers at every purchase to log into their PayPal account to complete the transaction. On November 7, 2008, PayPal completed its acquisition of Bill Me Later. The company was one of the first recipients of the Red Herring Global 100 Award by the publication Red Herring. The site, which offers consumers a line of revolving credit through Synchrony Bank, allows purchases to be made online without using a credit card. PayPal Credit, formerly named Bill Me Later ( BML), is a proprietary payment method offered on the websites of many well-known merchants, including those of Wal-Mart, Home Depot, USPS, eBay, B&H Photo Video, Best Buy,, JetBlue Airways, Liquidation Channel, Jewelry Television and. ( November 2017) ( Learn how and when to remove this template message) Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. This article contains content that is written like an advertisement.
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