PayPal introduces interest-free deferred payment option for shoppers

PayPal launched its "Pay in 30 Days" deferred payment product, allowing interest-free purchases up to 30 days later. This new Buy Now, Pay Later option enables shoppers to spread costs on eligible items between £1 and £900, with funds automatically deducted after the 30-day period. The launch coincides with new Financial Conduct Authority regulations for the BNPL sector, which will impact credit scores and require affordability checks.