PayPal has confirmed a new buy now, pay later (BNPL) option for UK customers, effective from this week. The new feature, called Pay in 30 Days, allows shoppers to complete a purchase upfront and pay the full amount up to 30 days later, with no interest or fees.
How Pay in 30 Days Works
The offering applies to purchases between £1 and £900, giving customers the flexibility to choose when to pay within the 30-day window. This means shoppers can align payments with their paydays or scheduled bill payments, providing greater control over their finances.
"British customers are smart," said Tamer El-Emary, general manager for PayPal in the UK, in a press release. "They want the flexibility to pay on their terms, but they're also more discerning than ever about who they trust with their money. We've seen that in how our customers use PayPal, and our BNPL product offering, including both Pay in 3 and now Pay in 30 Days is our response: genuine flexibility, zero fees and the reassurance of a brand that's been part of UK shopping for over two decades."
Regulatory Context
The launch comes just a day before new BNPL regulations come into effect across the UK. The Financial Conduct Authority (FCA) is set to regulate BNPL products, aiming to increase trust and transparency in the sector. PayPal's new offering is designed to meet these higher standards.
"As BNPL becomes regulated by the FCA and continues to grow in the UK, the bar for trust and transparency will only rise, and we think that's a good thing," El-Emary added. "For businesses, it means customers will increasingly gravitate toward payment options from names they recognize. PayPal's Pay in 30 Days gives merchants a way to meet that demand, backed by a checkout experience their customers already know and trust."
Benefits for Merchants
For merchants, Pay in 30 Days provides an additional way to offer flexibility at checkout without adding complexity. According to PayPal research, businesses that offer BNPL consider providing a range of customer payment preferences as an important competitive priority. The new option is expected to help merchants attract more customers and increase sales.
PayPal already offers Pay in 3, a BNPL option that splits payments into three instalments. The addition of Pay in 30 Days gives customers even more choice, reinforcing PayPal's position in the UK payment market.
