When you buy a product, especially electronics , the prices are never low and it's not always possible to get around a loan, especially if you buy it online. All this could change today thanks to PayPal , which with the "Pay in 3 installments" initiative finally opens up to deferred payments , with the possibility of interest-free installments.
PayPal "Pay in 3 installments": all the details on payments with interest-free financing
But how does the new PayPal installment initiative work? "Pay in 3 installments" does not leave much room for interpretation and indeed projects everything into a very convenient context: 3 total installments, with interest-free financing (therefore TAN, APR and default charges at 0). The amount that can be financed starts from €30 to €2,000 and will be offered to you during the payment phase.
But how are the installments distributed? The first installment is to be paid upon purchase, which occurs upon acceptance of the conditions by the user and obviously not after the expiry of the 14-day withdrawal period (which we will elaborate on below). The second installment is instead to be paid in the following month, while the third and last installment after 2 months . All very simple and comfortable.
Just as the possibility of early early withdrawal is convenient, especially if it is possible to do it without any reason within 14 days from the date of signing the loan agreement . Added to this is the early repayment, without charges.
What payment methods are accepted ? For accepted payment titles, you must have a credit card, debit card or confirmed current account connected to your PayPal account.
These are the indications for the loan amount: “ The loan amount is in Euros and corresponds to the total amount paid by the user for eligible purchases made on a merchant's website, including in particular the price of the item purchased plus shipping costs, taxes , currency conversion fee and currency conversion rate, where applicable, as well as any other fees or charges charged by the merchant .”
Clearly, PayPal Pay in 3 installments can only be requested by individuals residing in Italy aged 18 or over and holders of a Personal PayPal account to which the aforementioned payment methods are connected.