PayPal and Microsoft today announced an expanded partnership. PayPal's Pay Later service will be available on Microsoft's platforms in more regions, and Venmo will be available as a new payment option in the US.
The new deal will allow Microsoft customers in the US, UK, Australia, Germany, France, Spain, and Italy to use PayPal's buy now, pay later service "Pay in 4" when checking out. This service allows shoppers to split purchases into four interest-free payments over six weeks.
In addition, Microsoft customers in the US will soon be able to use Venmo to purchase in the Microsoft Store, on Xbox, and Xbox Game Pass.
PayPal Pay Later: With PayPal Pay Later, eligible consumers will now be able to pay for their purchases evenly over the course of weeks or months in fixed amounts, providing flexibility in how to pay and helping customers to better manage their budget.
Pay with Venmo: Venmo's powerful social app will help improve the customer experience by enabling a quick and simple checkout process in the Microsoft Store and Microsoft Store on Xbox. When consumers pay with Venmo, they'll have the option to purchase subscriptions or split payments upon purchase.
According to PayPal's SVP of Strategic Accounts Kurt Campisano, this expanded integration will provide Microsoft customers "access to our full suite of capabilities that will create a beautiful customer experience."
Microsoft's VP of Global Payments, Ajith Thekadath, said the partnership helps further the company's commitment to providing flexible and convenient payment options for Microsoft.
PayPal has been a payment option on Microsoft platforms for over 16 years. However, this new integration represents a deepening of that relationship, giving Microsoft customers more choices in how and when to pay.
The buy now, pay later sector has become popular in recent years. And PayPal and Microsoft believe "these new integrations offer customers more flexible ways to pay and help increase customer loyalty."