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When I use Paypal to buy I get the option to take 4 months interest credit if the value is >£99
Does the retailer get all the money upfront from Paypal in this situation?
Just used it to get a turbo trainer from Halfords. Yes, they get paid just as if it was directly from you.
Yes, it's like a credit card without you having an actual card.
Interesting - Wiggle is saying it can't be used to buy a bike using the 30 day test ride
I would think this was only true if you got the finance from Wiggle using V12
PayPal and wiggle/crc have some sort of partnership deal so they might have different terms to other retailers. Maybe wiggle/crc are offering you the credit through paypal to be used only with them as opposed to you applying for credit direct with paypal that can be used anywhere if that makes sense?
Possibly although I think that's only true for 12 months plus paypal credit
I think the 4 months interest free applies to anything over £99
From PayPal FAQ/Help
How do instalment plans with PayPal Credit work?
With selected merchants, when you check out with PayPal Credit, we’ll show you a selection of instalment offers, enabling you to spread the cost of your purchase across a number of payments.
Subject to application, merchant and status, these instalment offers allow you to choose a set number of monthly payments of differing amounts and at varying interest rates. If you already have PayPal Credit, you can take advantage of these offers without having to reapply as long as you have enough available credit limit.
Now I'm confused myself. I've never been offered an instalment plan when checking out with PayPal credit anywhere, but maybe these are paid to retailer in separate payments rather than upfront like a credit card.
Paypal Credit is an actual credit card - it was listed on my credit check as such.
Sounds like the retailers are running different partnership schemes with Paypal - perhaps for different fees/terms between them? Maybe the retailer is paying Paypal to offer interest free terms, or maybe Paypal is offering fancy deals to favoured big ticket retailers so Paypal can get more credit customers?
Paypal credit may be regarded as an actual credit card for reference purposes but it's not a card as most would understand it; it's virtual, not real.
'Standard' Paypal is interest bearing; 0% over 4 months is agreed between retailer and Paypal and, I believe, applies to specified products only.
The (relative) new boy for 0% is Klarna; offered by Halfords - don't know about other bike retailers but I would be surprised if they were the only ones.