PayPal Credit, formerly named Bill Me Later (BML), is a proprietary buy now, pay later payment method offered on merchant websites, including those of Wal-Mart, Home Depot, USPS and eBay in the United States.
[10] On May 19, 2015 CFPB filed a complaint and proposed consent order in federal court against PayPal, Inc. for illegally signing up consumers for its online credit product.
[14] As of 2019[update], for purchases of $99 and over that are made through PayPal wallet, customers have 6 months to pay their bill in full.
If they don't, then they are charged interest at a 19.99% APR starting from the original purchase date.
Purchases not made through the PayPal wallet will only receive promotional financing if the merchant is offering it.