The amount you can finance with Klarna depends on your finances. You can also opt for Klarna financing if you want up to 36 months to pay back your purchase, but this option might come with interest charges up to 24.99%. Klarna offers a few more payment options than PayPal does, including Pay in 4 and Pay in 30, both of which don’t charge interest.
Like PayPal Pay in 4, Klarna lets you split up your purchase into several monthly payments. PayPal Pay in 4 isn’t your only option for BPNL services. One satisfied customer wrote that PayPal processed a refund for them immediately when the item they ordered from another site was “an overpriced piece of junk.” Another said they’ve been using PayPal since 2001 without a single problem.Īs mentioned, these reviews cover a variety of PayPal services and are not specifically describing PayPal Pay in 4. That said, PayPal fared better on Consumer Affairs, receiving a 3.7 rating out of 5 stars based on more than 2,700 reviews. Others said it took a long time to send and receive money through PayPal. Overall, many customers cite negative experiences with PayPal, with the company receiving a 1.07 out of 5 stars based on 2,304 reviews on the BBB website and 1.2 out of 5 stars based on over 21,000 reviews on TrustPilot.Ĭustomers complained about expensive fees, technical issues and unhelpful customer support. While there aren’t many customer reviews of PayPal’s Pay in 4 service, thousands of reviewers have left comments about PayPal on sites like Better Business Bureau (BBB), TrustPilot and Consumer Affairs. If there’s a problem with the item you ordered (or you don’t receive it), you can let PayPal know within 60 days and it may refund your purchase price and shipping costs. PayPal offers purchase protection on eligible transactions that you make with PayPal Pay in 4. Finally, you must pass PayPal’s soft credit check or your application for Pay in 4 could be denied. You also must be at least 18 years old and live in an eligible state. To be eligible for PayPal Pay in 4, you must purchase an eligible item that costs between $30 and $1,500 from a participating online merchant that accepts PayPal. That said, you could rack up fees from your bank if you overdraw on your account or interest from your credit card company if you don’t pay off your charges within the month. There are also no penalties for paying off the purchase early. While this service is a point-of-sale installment loan, it does not charge interest, origination fees or late fees. There are no costs associated with PayPal Pay in 4. If you’re approved, you’ll need to sign a loan agreement that outlines the details of this point-of-sale service.
PayPal will run a soft credit check at the time, but this won’t impact your credit score.
You can select PayPal Pay in 4 at checkout and receive an instant decision about your approval. You must hold a PayPal account and link up an accepted payment method, such as a bank account, credit card or debit card. Note that PayPal Pay in 4 is only available on certain goods at select merchants where PayPal is accepted. PayPal Pay in 4 does not charge any interest, origination fees, late fees or other fees. You’d pay $100 at checkout, and then three additional payments of $100 in two-week intervals. You’ll make the first payment upfront and pay the remaining ones every two weeks for a total repayment period of six weeks.įor example, let’s say you were buying an item for $400. PayPal Pay in 4 lets you split up payments on your purchases at eligible online retailers into four equal payments.
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