![]() Purchases using the new service will be authenticated using Face ID, Touch ID or a passcode.Īfter Apple Pay Later is initially set up, you'll also be able to apply for a loan right at checkout. If you're is approved for the loan, you'll see the Pay Later option when you use Apple Pay online or make in-app purchases on iPhones and iPads. This process won't impact your credit score and is done to ensure you're in a "good financial position" before taking on the loan, according to the company's press release. If for some reason the items in your cart are not eligible for Pay in 4, the offer will not be available.Prior to making a purchase, Apple Pay Later users can apply for a loan between $50 and $1,000 and use it for in-app purchases or to buy products online through retailers that accept Apple Pay.Īfter you indicate the amount you would like to borrow, Apple conducts a soft credit check, which reviews your credit score to get an idea of how well you're managing your current credit. Keep in mind, not all goods and services are eligible. The Pay in 4 checkout option will be displayed if the option is available for the specific merchant as well as the transaction amount and type. Why could I use Pay Later before but can’t with the same merchant now? Pay in 4 eligibility will vary by merchant and individual shopping experience. Our Customer Service team can’t see your decline explanation reason(s) and cannot review loan applications. We will send you a message in the PayPal Message Center explaining why your application wasn’t approved at this time. If your application gets declined, you can still use PayPal to check out securely with other payment methods in your wallet. Why was my Pay in 4 application declined? Currency conversion charges will apply and can be found in the PayPal User Agreement. For transactions not in USD, PayPal will automatically convert the transaction amount to USD at checkout before providing you with your Pay in 4 plan. Transactions can be made in all currencies that PayPal supports, not just USD. Pay in 4 is available to use at select merchants where PayPal is accepted. The down payment will be due at the time of the transaction and 3 subsequent repayments will be taken every 15 days thereafter. Your Pay in 4 loan will last a little over 6 weeks in total. However, if your repayment is returned because of non-sufficient funds or for another reason, your financial institution may charge you an NSF or other fee. PayPal does not charge any sign-up, application, late, or NSF fees when you pay with Pay in 4. Once your plan starts, we will send you an email containing important information about your Pay in 4 loan, including how to locate your loan agreement.Īre there any fees associated with Pay in 4? ![]() You will also have the option to download the loan agreement. You will see the link to the loan agreement when you choose to apply for Pay in 4 at checkout. You must read the loan agreement for your Pay in 4 loan before you submit your application. Offer availability depends on the merchant and may not be available for certain recurring subscription services.Īre there terms and conditions for my Pay in 4 loan? Pay in 4 is not available for certain merchants and goods. You must also have a PayPal account in good standing or open a PayPal account to apply. Availability depends on your state of residence, and you must be at least 18 years of age (or the age of majority in your state) to apply. Upon applying, you'll receive a decision within seconds, although not every application will be approved. Pay in 4 will appear as a payment method for eligible shopping cart values between $30 to $1,500 when you check out with PayPal. Pay in 4 is an interest-free installment loan that lets you split your purchase into 4 repayments, with the down payment due at the time of the transaction and 3 subsequent repayments made every 15 days thereafter.
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