The PayPal application is seen on an iPhone
Jaap Arriens | NurPhoto | Getty Images
LONDON — PayPal says it’s launching a “buy now, pay later” service in the U.K. that lets shoppers finance their purchases over three interest-free monthly instalments.
The U.S. tech giant is perhaps better known for its online payment tools, but it’s been branching out into credit in the years since it acquired lending platform Bill Me Later.
Now, the company is taking on the likes of Sweden’s Klarna and Australia’s Afterpay, whose point-of-sale loans have increased in popularity recently. It rolled out its “Pay in 4” product in the U.S. just last month and is now following up with a separate offering for…