What is PayLater? PayLater Review, Features

PayLater is a new payment method available to buyers when purchasing on Alibaba.com and is now available to buyers in the United States.

About PayLater

When buyers use PayLater to pay, third-party financial institutions will directly advance funds to sellers. Under this product, buyers can obtain a loan period of up to 6 months, and sellers can receive payments safely and quickly.

Features

1. High payment success rate and fast payment

The success rate of payment within the credit limit is close to 100%, and the funds will arrive in the account within 1-2 working days.

2. Preferential rates

The lowest rate is 1.25% for the first month.

3. Online quick application

Apply fully online and get a credit line in 10 minutes.

4. Convenient repayment

Monthly repayments, early repayment is possible and there is no handling fee.

5. Free application

There is no activation fee.

Product Value

1. For international buyers:

(1) Solve funding needs

PayLater solves the capital turnover problem of buyers' online purchase orders, with a credit line of up to US$150,000, allowing buyers to have more funds for purchases.

(2) Pay low cost

The fees are low, which has a price advantage over similar products in the US market, and there are no additional transaction fees or early repayment fees.

(3) Fast payment and high success rate

Nearly 100% payment success rate, most payments arrive within T+1 working day.

2. For international sellers:

(1) Increase TA transaction volume and improve star rating

PayLater solves buyers’ funding issues, helps them obtain more and larger orders, increases their transaction volume, and improves their star rating.

(2) Activate existing buyers

Sellers recommend PayLater to buyers to help them get funds, which helps restart partnerships, activate existing buyers, and start new collaborations.

(3) Fast and secure payment collection

The payment is collected quickly, with a high success rate, and there are no refund issues under other payment methods (except for refunds under the credit insurance dispute mechanism).

PayLater Application Process (Buyers)

1. Application entry

Go to paylater.alibaba.com and click “Apply Now”.

My Alibaba-->Service-->Pay Later, click “Apply Now”:

Check Out:

2. Fill in the information

Recommended method

Recommend PayLater to buyers. International sellers can recommend PayLater to their buyers in the following ways:

1. You can send the application link to the buyer: paylater.alibaba.com;

2. Guide the buyer to log in to the international site → My Alibaba → Services → PayLater;

3. Guide the buyer to the checkout page → PayLater.

September promotion rules

1. Target of preferential treatment: American buyers

For the first payment made by buyers using PayLater during the Procurement Festival, the first month's fee can be waived, up to US$100. One buyer is limited to one order, and the limit is 1,500 customers.

2. Buyer qualification requirements

US buyers (except Vermont) with a history of more than one year, annual sales exceeding US$50,000 or monthly sales of no less than US$4,200 in the past three months, and who have completed the PayLater application and are qualified.

3. Process of using the discount

Step 1: Complete the PayLater application process and obtain PayLater credit;

Step 2: Use PayLater credit limit to pay for credit guarantee orders during the promotion period;

Step 3: The system will automatically waive the first month's fee, up to a maximum of $100.

4. Activity time

The order payment time is from 0:00 (PDT, US time) on September 4, 2018 to 23:59:59 (PDT, US time) on September 30, 2018. During the above time range, you can enjoy the discount if you choose PayLater as the payment method at the cashier and complete the order payment process.