PayPal’s new payment option offers consumers a convenient way of shopping on participating merchant websites, allowing them to shop now and pay later.

Powered by GE Money Bank, The PayPal Pay Later service allows merchants to give flexible financial options to buyers through a transactional credit account. With options such as no payments for 90 days, merchants get to have more ways to market their merchandise to shoppers.

“We’re really excited to be one of the first sites to offer deferred payments through PayPal and give our customers even more choice when they make purchases,” said Dave Gaeta, Marketing Director of Cooking.com. “We see this is as a great new tool to generate even more sales for our business.”

“PayPal Pay Later makes offering PayPal even more attractive to merchants because it gives them yet another way to drive sales,” said Stephanie Tilenius, VP and General Manager of PayPal Merchant Services. “And consumers get instant purchasing power because they can buy when they want and pay for it later – all with the peace of mind that they don’t have to share credit card information over the Web.”

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