Ebay, buy now pay later

cainer

cainer

cainer

Man of Honour
Joined
9 Jan 2010
Posts
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so i just made a small purchase on ebay and when i went to pay via paypal this flashed up..

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Paypal pay the seller then bill you for it 14 days later, 2 weeks free credit :o
i didnt use the option as it was only a small amount but it got me thinking about buying other stuff which i havnt got the cash for right now, and now im thinking its not such a great idea, what do you think?
 
Combined with an appropriate pay day lender this seems a sound financial option for those looking to make impulsive purchases despite ttheir current lack of funds. :eek:
 
That could be a good business idea. Give ebay sellers the option of adding "Buy Now Pay Later" to items over say £50, charge say 5% extra in interest, give the seller 3%, Paypal/ebay keep 2% for instance.
 
I wonder if that two week period is enough to be deemed that Paypal are acting as a lender and therefore fall under the consumer credit act? That could mean that the financial ombudsman could be involved if there is a dispute.
 
I use it on any purchases from ebay that allow it.

I always have the money to pay for it but the advantage is that if you have to raise a disupte and you do it before the 14 days is up no money ever leaves your account so you're not waiting around for a refund etc.
 
ive been doing it for months now, not had any problems buying anything, even includes buying things from Steam and such places
 
Hades said:
I wonder if that two week period is enough to be deemed that Paypal are acting as a lender and therefore fall under the consumer credit act? That could mean that the financial ombudsman could be involved if there is a dispute.
Click to expand...

Paypal already provide loans to small businesses
 
It seems to have been doing this a lot lately... and in some cases not giving me the option for it and doing it anyway.

Pointless feature IMO. 2 weeks isn't enough for BNPL.
 
Hades said:
I wonder if that two week period is enough to be deemed that Paypal are acting as a lender and therefore fall under the consumer credit act? That could mean that the financial ombudsman could be involved if there is a dispute.
Click to expand...

That would be a good thing to have on eBay.
 
Paraphrasing: "i was thinking about buying things i don't have the money for right now."

You're using credit wrong. (Or rather, the same way millions do: extremely irresponsibly)
 
Going to be even better for scammers now.

Buy iphone.

Choose pay later.

Decide you don't want it, cancel the payment and send back empty cardboard box via RM SD with the right weight inside.

Free iphone!
 
86JR said:
Going to be even better for scammers now.

Buy iphone.

Choose pay later.

Decide you don't want it, cancel the payment and send back empty cardboard box via RM SD with the right weight inside.

Free iphone!
Click to expand...

Considering the cash is coming from Paypal's pocket, they will probably be more stringent than usual.
 
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