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PayPal to Offer Installment Payments for Amazon Customers in Germany, Austria

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PayPal (PYPL) will offer installment payments for up to 48 months for eligible Amazon.com (AMZN) customers in Germany and Austria beginning in August, the companies said Tuesday.

PayPal Ratenzahlung enables customers to split purchases of 30 euros ($34.14) to 10,000 euros into fixed monthly installments over three to 24 months with exclusive 36- and 48-month options for Amazon customers.

The installment service will be integrated into Amazon.de's checkout process and rolled out to eligible customers over the coming weeks.

PayPal shares rose 3.1% in Tuesday trading, and Amazon fell 1.2%.

Price: $57.78, Change: $+1.71, Percent Change: +3.05%

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