PayPal Dropping PayPal Credit, Formerly Bill Me Later, Credit Option
The company has been slowly but steadily moving toward a digital wallet payment model
Remember in the early 2000s when you suddenly found out about this great new credit option called Bill Me Later?
A revolving line of credit rather than an actual credit card, the service launched in the early days of e-commerce. It was so successful that it caught the attention of PayPal, which bought it in 2008. The company then rebranded the service in 2014, calling it "PayPal Credit."
Regardless of which name you remember, the service is now a thing of the past.
A company spokesperson wrote in an email to users that PayPal has been "gradually moving servicing to the PayPal Wallet instead of a standalone website to provide more robust capabilities and a more consistent experience to all customers. As of January 10, the legacy Bill Me Later servicing site will be closed and all customers will be able to access and make payments to their accounts using PayPal.com. Other ways to make a payment, such as by regular mail or through customer service, still remain available."
The line of credit provided by the service was established by Comenity Capital Bank.