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PayPal Launches Fee-Free 'Pay in 4' BNPL in Canada for Holiday Shopping

The service lets eligible shoppers split C$30 to C$1,500 purchases into four interest-free payments over six weeks.

A pedestrian walks past the PayPal logo at an office building in Berlin, Germany, March 5, 2019. REUTERS/Fabrizio Bensch/File Photo
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Overview

  • The rollout covers online Canadian and global retailers, with named brands including Knix, Samsonite, Silk & Snow, The Home Depot Canada and Ticketmaster.
  • Installments are charged automatically from a debit card, credit card or bank account, with the option to repay early via the PayPal app or website.
  • Eligible purchases qualify for PayPal Purchase Protection, providing coverage for items that do not arrive or are not as described.
  • PayPal highlights merchant gains from BNPL, citing a 90% global approval rate and 80% higher order values when shoppers use installments.
  • Holiday promotions include a Cadillac Fairview partnership featuring a Pay in 4, Play in 4 pop-up and an online game offering chances to win up to $1,000.