With no prior announcement – officially at any rate – PayPal is reported to have started letting buyers use a service which means payment for items bought online can be delayed for a short time.
The quiet roll-out of the service has come a mere eight months after the service was originally slated for introduction in the UK.
Nevertheless some online shoppers – among them Chris Dawson at Tamebay.com – have reported being shown a sign-up page inviting them to register to take advantage of the deferred payment facility.
He says that, while many of us have become used to having the funds for our online purchases deducted instantly, or at least in just a few days, from our accounts, it could be a useful facility for buying something where stocks are limited.
“For people who get paid monthly I can see the attraction of paying a week before payday knowing you’ll have funds in your account two weeks later when PayPal [wants] the cash.”
The facility, notes Chris, is not, like PayPal Credit, a finance agreement, and no interest is charged. However, he also reasonably points out that, with interest rates on current accounts so miniscule, there’s little benefit in hanging onto funds for an extra two weeks.