PayPal introduces Pay Monthly for enabling consumers to spread payments over time
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PayPal (NASDAQ:PYPL) launched PayPal Pay Monthly, its newest buy now, pay later offering, issued by WebBank, which gives U.S. consumers the ability to spread payments out over longer periods of time.
Pay Monthly is a new way for customers to make large purchases between $199-$10K and lets them break the total cost into monthly payments over a 6â24-month period, with the first payment due one month after purchase.

A recent study found that 65% of Americans are saving for a big purchase, and 79% are looking to create and maintain a budget, which has created a growing need for shoppers to buy the items they want in manageable payments.
With Pay Monthly, customers can select between using their debit card or bank account for repayment and seamlessly manage and track payments through the PayPal app and online.
Pay Monthly will be automatically available for merchants at no additional cost or risk and requires no complex back-office integration to add as a payment option.
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