PayPal Pay Later is an open-end (revolving) credit card account that provides a reusable credit line built into your account with PayPal giving you the flexibility to pay for your purchases right away or pay over time. Note that PayPal Later option is not the same thing as a PayPal debit or credit card.

Similar to Afterpay and Klarna, it offers a "buy now, pay later" service that allows online shoppers to purchase from major retailers without paying upfront.

Buy now, pay later is an excellent option if you want to make a large purchase more affordable by paying it off over time. Get what you want and break the payments up over weeks or even months.