Buy an item on eBay and pay 3 months later

[img_assist|nid=7476|title=|desc=|link=none|align=left|width=100|height=100]One of the biggest online auctions, eBay.com, has announced a new payment option available for the US customers  - PayPal Pay Later, a convenient and secure credit service. A new payment option is issued by GE Money Bank, one of the leaders among credit providers.  Owing to this service the users can delay payment for 90 days for the purchases ranging from $50 to $199.

The new service is available even for those who have no account with PayPal payment system. The application proccess takes only 30 minutes after which the buyers can access the credit.

According to study conducted by Northstar Research Partners requested by PayPal, sellers also get higher profits, as the figures showed that 56% of PayPal users are more likely to buy from a merchant if the PayPal delayed payment option is available. Pay Later purchases are almost the same as regular PayPal purchases, and eBay sellers accepting PayPal will now offer Pay Later option as well. All the sellers are paid quickly, and standard PayPal fees apply.

"We are excited to give eBay buyers even more ways to pay for items on eBay with the security and convenience of PayPal," commented Chris George, senior director of financial products at PayPal.