The soft check won’t impact your credit score. Click “Pay Later” and choose “Pay in 4.” The service will grant you a near-instant decision after running a soft credit check.Place an item in your cart and indicate you’re ready to pay via PayPal. Select PayPal on a merchant’s checkout page.If you already have an account, it must be in good standing. So you’ll need to pay off your debt completely within 45 days. The other three payments are due every 15 days. You’ll need to pay the first installment, or a down payment, immediately. Like many “buy now, pay later” companies, Pay in 4 splits your loan amount into four equal installments. You also must be at least 18 years old to use Pay in 4 in the other states (19 in Alabama and Nebraska). The program excludes the following states: Not everyone is eligible to use Pay in 4. PayPal also operates Pay in 3, a similar program based in the United Kingdom. That’s many times more than the other “buy now, pay later” services I’ve reviewed. PayPal claims that Pay in 4 works with “millions” of online merchants. It offers zero-interest loans between $30 and $1,500. PayPal co-founder Max Levchin is also co-founder and CEO of Affirm, a major BNPL competitor. This new iteration is more in line with PayPal’s competition in the BNPL space. It replaced the platform’s Easy Payments program, which was essentially a “buy now, pay later” program, albeit with different parameters. Pay in 4: Quick Look Pay in 4 at a Glance How Does Pay in 4 Determine Your Spending Limits?.Pay in 4 Review: What Happens if You Miss a Payment?.In this article, I’ll explain how Pay in 4 works, how much money you can borrow through the service and whether Pay in 4 charges fees if you miss payments and more. It launched “Pay in 4” last year as an answer to several large “buy now, pay later” (BNPL) companies and as an extension of its primary payment service. PayPal has moved to establish itself as a major player on both fronts. Online shopping and “buy now, pay later” are becoming more entrenched in American consumer culture.
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