Bill Me Later Is Now PayPal Credit, PayPal Working Capital Succeeds

Gary Marino, SVP, Global Financial Services & North America

PayPal Working Capital Exceeds $150 Million and Both are Going Global

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Delivering flexible and convenient credit products is something I have been passionate about for nearly two decades. I joined Bill Me Later with eBay (PayPal) in 2008, because we shared a common vision to make shopping and paying easy, flexible and convenient. So today, we are announcing the evolution of Bill Me Later to PayPal Credit, and the exceptional growth of PayPal Working Capital----a global portfolio of credit solutions that help people and businesses leap forward.

PayPal Credit Evolves and Plans to Expand to the UK and Germany

As people and businesses know and trust the PayPal name, this is a natural and logical brand transformation. It also demonstrates how we are moving credit more towards the center of our business, aligning it more closely with our overall brand, and working as a partner with businesses to spur growth. Our customers and merchants across the pond have been asking for the flexibility and convenience of PayPal Credit in their markets, so today we’re also announcing that we plan to introduce PayPal Credit to the UK and Germany. People will begin to see PayPal in places they haven’t seen before, allowing shoppers to easily make purchases with financial flexibility.

PayPal Working Capital Has Funded More Than $150 Million in Loans to 20,000 US Businesses

Since the pilot program launched last September, more than 20,000 businesses have collectively borrowed more than $150 million in PayPal Working Capital business loans through our lending partner, WebBank. The program is also expanding to the UK and Australia to fuel business growth. Businesses in these countries will have access to capital in minutes once they apply and are approved through a simple online interface. PayPal Working Capital allows these businesses to repay with a share of their sales they choose, and don’t repay on days they don’t have sales. Because the program uses a business’s sales history, there is no credit check or extensive documentation required. The loan charges a single, affordable fixed fee instead of periodic interest so businesses know the cost of the loan up front. It’s that simple.

Evolving Credit Landscape

Offering these products more broadly is a sign of the power that credit brings to both merchants and consumers. 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 US customers, so we are going global.

But it’s less important for me to tell you about how great this product is and more important for you to hear it from the merchants themselves who have seen their business grow directly as a result of offering credit or receiving capital through PayPal Working Capital:

  • PayPal Working Capital: “I would recommend PayPal Working Capital to other business owners because it gives you a quick, easy way to get access to money to grow your business.” – Steve Contratto, owner of CF Sales


  • PayPal Credit: “We love to use PayPal because it’s brought some new pieces to our business. It doesn’t require us to have so much interaction with the personal information of the customers we’re doing the financing for.” – Jack Murray, owner of Jack & Adams Bicycles


There’s nothing more important in today’s economy -- whether you’re shopping online or a global retailer ---than the credit flexibility to take the leap. Make the purchase, expand the business or offer your customers more options - seize the opportunity. PayPal is here to give you that boost.