PayPal Pay in 3

Pay in 3 is the facility for Paypal account holders to spread the cost of their purchase over 3 equal installments.

•  PayPal Pay in 3 is an interest-free loan that lets you split your basket into 3 payments, with the first due at the time of purchase and subsequent payments due every month on the same date. It’s a great way to spread the cost of larger items or to cover emergencies and is a helpful tool to manage your budget more effectively. Please note that Pay in 3 is a form of credit, so carefully consider whether you can afford the repayments and the possible impact on your credit score.

• We’re offering PayPal Pay in 3 to a growing number of our UK customers. PayPal Pay in 3 is not available for certain merchants and goods. We may also decide not to offer PayPal Pay in 3 as a payment option in certain circumstances, such as where our checks suggest an increased risk of fraud or where data we hold suggests you may not be eligible. If you choose PayPal Pay in 3 as your payment method when you check out with PayPal, you’ll be taken through the application process. You’ll get a decision instantly, but not everyone will be approved based on our internal checks.

• Your plan will last 2 months in total. The first payment will be due at the time of purchase, followed by 2 further payments due each month after that.

• To apply for PayPal Pay in 3, you’ll need to provide your: Title, Phone number, Address, Date of birth, Debit card information

• Our decision-making process is automated. We assess your financial position using a combination of the information you provided within your application, and information about your usage and history with PayPal to decide whether PayPal Pay in 3 is suitable for you at this time.

• If needed, PayPal will run a soft credit check with an external credit reference agency. This leaves no permanent mark on a customer’s credit record if they choose not to progress. However, if a customer decides to use Pay in 3, we will report their ongoing performance to credit reference agencies as we believe this promotes responsible lending. So, it’s important that you’re able to keep up your repayments and that you’re comfortable that they’re affordable.

• There are no fees for choosing to pay with PayPal Pay in 3.

This is also taken from the PAYPAL site and it explains how it works

• Just choose to pay with PayPal when you shop online, log into your PayPal account and, if it is an eligible transaction, you’ll see PayPal Pay in 3 as one of the available payment methods. After selecting it, you can apply for a PayPal Pay in 3 plan in a few simple steps, get an instant decision, and finish checking out.

• You can use PayPal Pay in 3 for eligible shopping cart amounts between £30.00 to £2,000.00. These values may vary from merchant to merchant.

• PayPal Pay in 3 is available to use at most merchants where PayPal is accepted. Transactions can be made in all currencies that PayPal supports, not just GBP. For transactions not in GBP, PayPal will automatically convert the transaction amount to GBP at checkout before providing you with your PayPal Pay in 3 plan. Currency conversion charges will apply as set out in your PayPal User Agreement.

• Yes, PayPal Pay in 3 is a separate feature from PayPal Credit. Purchases made using PayPal Pay in 3 will be visible in the PayPal Pay in 3 sections of your PayPal Wallet.

We do need to make it clear that the offer of Paypal Pay in 3 is purely dependent on your account with Paypal – we are not a credit broker or lender and we have no say in whether you are offered Paypal Pay in 3 or not. If you have a PayPal account and the option to Pay in 3 appears at checkout, you can use this facility to apply on the PayPal site to pay for your order.