What is Pay Monthly?
Pay Monthly is a way for PayPal customers to spread the cost of their eligible purchases between $199 - $10,000 USD into equal monthly payments over a specific term. It’s offered to eligible customers during the online checkout experience.
Pay Monthly is an interest-bearing installment loan issued by PayPal’s bank partner, WebBank, with APRs ranging from 9.99% - to 29.99% based on the customer’s creditworthiness. Lower APRs may be offered as a promotion from time to time and are subject to the eligibility and terms of the offers when made.
New and existing PayPal customers can take advantage of Pay Monthly (eligibility varies by user, state, merchant, etc.).