Customers can get 6 months to pay. You get paid up front.
PayPal offers a Bill Me Later service for small and medium sized online businesses. This feature enables Miva merchants to offer Bill Me Later as a financing option for online transactions. Customers love the ability to purchase with this no-interest financing option, and Miva stores can offer the Bill Me Later option at checkout and get paid right away from PayPal.
Benefits for Online Businesses:
- It’s Fast – Online businesses get paid the full amount, usually within minutes of the customer completing the purchase.
- It’s Free – There is no extra charge when customers choose to finance; Businesses only pay the normal PayPal transaction fee. PayPal also provides 18 free banner ads for online businesses to use to tell customers that they can finance their purchases. It can be easily inserted into the home page or check-out page to highlight the Bill Me Later option.
- It’s already Built In – Bill Me Later is already built in to the Miva PayPal payment solution. Plus PayPal helps ease the burden of meeting billing, credit risk and regulatory requirements.
- It Encourages Larger Purchases – When customers know that they have financing options earlier in the shopping process, businesses can encourage larger purchases. Bill Me Later boosted average order sizes by as much as 75 percent, according to Forrester Research.
Benefits for Customers:
- Offers More Buying Power – Customers can afford to buy more when they can pay over time. With PayPal, they get access to financing for 6 months on purchases of $99 or more. Subject to credit approval.
- Simple Sign-Up – During checkout, customers select the Bill Me Later option, enter two pieces of information, accept the terms, and get a decision in seconds.
- The Sky’s the Limit – There is no upper limit for how much customers can finance through PayPal’s Bill Me Later feature.
Learn more about the Bill Me Later PayPal Service here.
