eBay.com start accepting Bill Me Later
19/10/2009 at 19:41
PayPal have just announced introduction of Bill Me Later as a payment option on eBay.com. There are no changes for sellers, and in fact sellers should never notice the difference from a standard PayPal payment. Buyers simply select Bill Me Later as a funding option when checking out via PayPal.
It’s a whole year since PayPal acquired Bill Me Later, and as an eBay company it’s high time it was integrated for eBay payments.
With an APR of 19.99% it’s not an attractive long term finance option, but for US customers who simply want to delay payment until pay day and then clear their balance if full it’s ideal. The minimum finance charge is $2.00.
whirly says
7:47 pm on 19/10/2009
This purchase always baffled me. Lend money to people with no money, I think the banks tried that…now look at the world.
Andy says
10:30 pm on 19/10/2009
I’m with you whirly. Bloddy ridiculous. Especially given what we’ve been through in the last 18 months.
Chris Dawson says
11:08 pm on 19/10/2009
It is intended as short term credit – better than the alternative which is the dreaded echeque.
Just hope not too many people use it as casual credit or they’re gonna be paying a fortune in interest!
Elvis says
12:25 am on 20/10/2009
So what happens if a buyer pays by BML and never pays paypal to clear off the balance owed? Will paypal reverse the payment from the sellers account and leave us out of pocket aswell as losing the item?
Sue Bailey says
12:27 am on October 20th, 2009
Elvis, my understanding is that all the risk remains with BML.