Paypal offers in Germany now installment loans. However, the interest rate is higher than what banks currently require.
10. September 2019, 10:59 PM
Achim Pogner In Die Meistersinger
Paypal Germany has started a program for installment payments when shopping Online. The company announced on 10. September 2019 not known. Basically, the Option is available wherever the Pay by Paypal is possible.
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On the request for payment in instalments to be decided in real time, the company said. Paypal payment in instalments will be offered for purchases from 199 Euro to 5,000 Euro. The term is twelve months effective annual interest rate of 9.99 percent. The repayment is made in monthly Instalments, which are debited by direct debit from the Bank account of the customer. In the case of loan comparison sites, loans for 5000 euros with a maturity of twelve months to lower interest rates available.
To be able to use Paypal, payment in installments of its benefits, online shoppers, among other things, a German Paypal account. The company, Paypal will introduce payment by instalments in the coming months to gradually for its 23 million customers.
The merchant immediately receives the purchase amount in full, and handles the ordering, as usual. The processing of payment by instalments the buyer accepts Paypal. The lender is Paypal (Europe) Luxembourg. For the money receiving Paypal charges a fee, consisting of a variable fee and a fixed fee: 1.9% plus € 0.35 fixed fee.
Ebay announced in January 2018, Paypal as main payment processor to exchange. Replaced the payment service provider Adyen in mid-2020 by the Dutch company. Customers should be able to use Paypal continues as a payment option, at least until 2023. Adyen is, even when the processing is not visible, but Ebay is the main focus.