UNITED STATES | Last week at the Money2020 event in Las Vegas, PayPal officially launched its Pay After Delivery service. The payment firm also announced new partnerships Authorize.net and Cybersource (both Visa companies). PayPal piloted the Pay After Delivery service in the U.K. last year and then tested it earlier this year in the U.S
Pay After Delivery
PayPal's Pay After Delivery service allows PayPal users to pay for their goods up to 14 days after they have made a purchase. With this 'Shop Now-Pay Later' solution, PayPal tries to further boost confidence for people shopping online. Many people, especially first time online shoppers, prefer to first receive the goods ordered, and then pay for it.
The Pay After Delivery product seems perfect positioned for upcoming ecommerce markets (where shoppers still need to gain confidence when buying online) and markets where more and more people wish to first see the product and then pay for it. Important to recognise is that merchants will still get paid immediately.
PayPal’s Chief Product Officer said PayPal will be looking to roll out Pay After Delivery globally. PayPal currently has over 157 million customers in 203 markets around the world.
PayPal, Authorize.net and CyberSource
PayPal also announced new partnerships with Authorize.net and CyberSource, two of the larger online payment processing companies, effectively enabling its businesses to accept PayPal along with other payment services.