The pay after delivery service is officially launched by Paypal at the Money2020 conference at Las Vegas. With this service Paypal users can make a purchase and choose to pay for it up to 14 days after the purchase has been made.
According to Paypal, this lets users to get their item first and make sure they got what they were expecting. Pay after delivery service is not just useful to the buyers but also to the merchants!
Even though buyers can take up to 14 days to make the payment, merchants get paid instantly after the sale is made. Essentially, Paypal is giving this money as “loan” to merchants during the 14-day period until the money gets withdrawn from the users’ account.
This service was already tested in the UK last year and as well as in the US this year in a small circle. Paypal confirms that millions of users have already tried this service and the time is now right for the service to be rolled out officially.
In the announcement, Paypal also revealed partnerships with Burger King and Godaddy and also with Authorize.net and Cybersource. As a result of the partnerships, users will soon be able to pay for their meal orders via Paypal. Via the Burger King app built by Tillster (available for Android and iOS), users will soon be able to order their food and receive a one-time code. Presenting the one-time code to the cashier lets the users’ Paypal account to be charged.
This feature will be rolled out in the US early next year after testing in select locations.