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The start of pre-Christmas shopping, sanctioned by Black Friday (the day after Thanksgiving in the United States), saw a boom in volumes on the platform for using PayPal’s “Buy now, pay later” (BNPL). Dan Schulman, CEO of the payment giant, reported 400% more transactions than a year ago. “We have seen a 400% year-on-year increase in our volumes during this past Black Friday,” said PayPal’s number one, with more than 9 million people using the BNPL service exploding in popularity alongside. the acceleration of e-commerce volumes during the pandemic.
The “Buy in 4” service, launched by PayPal in August 2020, allows you to split your purchase into four interest-free payments.