PayPal is switching on its “Pay in 4” instalment option for 9 million Australian customers on Wednesday as it takes on buy now, pay later market leader Afterpay on its home turf.
The US payments giant will do away with late payment fees altogether, declaring it “the right thing to do for customers” which it says are getting sick and tired of getting stung with extra costs by buy now, pay later apps.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
