San Jose, Calif. – PayPal is rebranding its Bill Me Later online credit service as PayPal Credit. PayPal says it is making the name change as it moves credit more towards the center of our business, aligning it more closely with the overall brand.
In addition, PayPal plans to introduce PayPal Credit to the U.K. and Germany, based on requests from customers and retailers. The company also plans to expand PayPal Credit to other markets in the future.
Furthermore, since the PayPal Working Capital pilot program launched in September 2013, more than 20,000 businesses have collectively borrowed more than $150 million in PayPal Working Capital business loans through lending partner WebBank. The program is also expanding to the U.K. and Australia to fuel business growth.