Bill Me Later Rebranded PayPal Credit, Launches in UK and Germany
Aug. 4, 2014
PayPal late last week rebranded Bill Me Later, which it had acquired in 2008, as PayPal Credit. The company also took the opportunity to announce the expansion of PayPal Credit into the U.K. and Germany. Bill Me Later is an online payment method that extends the ability to buy on credit to those who either do not have or do not want to use credit cards. The move signals PayPal’s intention to “[move] credit more towards the center of our business,” according to Gary Marino, senior vice president of global financial services and North America for PayPal and the CEO and founder of Bill Me Later. That means working to offer merchants credit as well as consumers, he said.
“Offering these products more broadly is a sign of the power that credit brings to both merchants and consumers,” Marino said. “Merchants can leverage credit as a tool to secure capital and grow their businesses. Additionally, they can offer credit with flexible payments options for their customers and immediate sales, while consumers experience freedom of choice when buying what they want—when they want it.  We recognize this value isn’t limited to our U.S. customers, so we are going global.”