PayPal has had a buy now pay later product since 2008 but the sector is having a moment during the pandemic and the payments group is looking to capitalize on this growing trend; “Our launch in France is exactly what a lot of consumers are moving towards, which is using this product and creating a smoother cash flow experience for them,” Doug Bland, SVP and GM of Global Credit at PayPal, told Business Insider when talking about their new buy now pay later product launch in France. “With COVID and what’s happening right now, credit can play a very important and critical role for us,” he added; the move is a net benefit for merchants as well since this will help to generate more sales; “With the proprietary data that we’re able to see within PayPal Working Capital, we’re able to understand the velocity of payments, both inflows and outflows, of what’s happening with each of these merchants,” Bland said to Business Insider.”We’re able to make predictive decisions based on that data that other lenders just don’t have access to and are unable to see,.” Business Insider.
