the latest service from PayPal, Pay after delivery, give people up to 14 days to pay for things they buy.
This means that you can get a two week loan from PayPal to make various purchases at no additional cost from the online payment company (although the fine print indicates that third parties may charge you). This doesn’t mean that you can get hard cash from PayPal, but you can make some pretty big purchases as the spending limit can be up to $ 10,000.
To use Pay After Delivery, you must give PayPal a valid bank account number, and it will attempt to debit that account after 14 days have passed. If you don’t have enough money, the remaining debt will be transferred to your PayPal account, credit card, or other debit card.
PayPal is one of the grandfathers of online payment, but the competition is getting fierce because mobile payment services like Apple Pay and Google Wallet make it easier to use bank cards in a digital environment, and old add-ons like Etsy are rolling out their own payment options. It’s a way for PayPal to offer something new again.
Pay Pal announcement Pay After Delivery at a payment event in Las Vegas, and it also unveiled a new partnership with Burger King that will allow people to pay for their fast food in advance with PayPal. So if Burger King is also down with Pay After Delivery, you will be able to get a 14 day loan from PayPal to buy up to $ 10,000 from Whoppers. [VentureBeat]