3 Reasons Buy Now, Pay Later Will Be Huge for PayPal

The sales concept of "buy now, pay later" is quickly growing in popularity among online shoppers. Instead of putting a purchase on a credit card, which charges high interest rates with no predetermined loan term, shoppers can sign up for a set number of installments for big purchases, often with no interest charges.

PayPal (NASDAQ: PYPL) started rolling out its buy now, pay later feature in August last year, in an effort to take on start-ups in the space like Affirm (NASDAQ: AFRM), Klarna, and Afterpay. While PayPal may have gotten a bit of a late start, buy now, pay later remains a big opportunity for the fintech company. Here are three reasons why.

Image source: PayPal.

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Source Fool.com