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Most buyers should pick PayPal.
Choose PayPal for a broad digital wallet covering checkout, transfers, shopping and savings. Its business account has no monthly fee, though transaction fees apply; listed paid options start at $5/month. Choose Splitit if you want to divide a purchase across installments on an existing credit card without applying for a new loan. Splitit’s merchant plans are custom quoted, and its installment options can involve consumer APR or a finance charge.
01Side by side
| PayPal | Splitit | |
|---|---|---|
| Starting price | $0 account; paid plans from $5/month | Custom quoted; price not published |
| Free plan | Yes; business account has no monthly fee | No free plan listed |
| Best for | Everyday checkout, transfers, savings and shopping | Installments on an existing credit card |
| Core strength | Broad wallet and payment features | Pay later without applying for a new loan |
| Learning curve | Not published | Not published |
| Integrations/data | Checkout and Venmo; broader details not published | Existing-card installments; integrations not published |
| Team/seat costs | Seat pricing not published | Seat pricing not published |
| Support | Review support score: 4/10 | Review support score: 5/10 |
PayPal Choose PayPal if
- Choose PayPal if you want checkout, transfers and shopping in one wallet.
- Choose PayPal if a no-monthly-fee business account fits your needs.
- Choose PayPal if you want listed savings and cryptocurrency features.
Splitit Choose Splitit if
- Choose Splitit if you want installments on a credit card you already have.
- Choose Splitit if you want to avoid applying for a new loan.
- Choose Splitit if your card has room for the purchase.
02Pricing compared
PayPal has a free Business Account, with no monthly maintenance fee. That does not mean payments are free: the pricing page lists PayPal Checkout and Venmo at 3.49% + $0.49 per transaction, standard card payments at 2.99% + $0.49, and in-person card or QR payments at 2.29% + $0.09. Paid options include Payments Advanced at $5 per month and Payflow Pro at $25 per month; processing fees may also apply.
Splitit does not publish monthly or annual plan prices. Its four merchant plans are custom quoted. Essential adds no plan cost beyond processing, while Flex balances consumer APR and merchant fees. Premium offers 0% consumer APR, and Premium Lite offers partial upfront funding and lower merchant fees. Splitit lists up to 12 installments and a $10,000 default maximum order across its plans. Ask for a quote before comparing total costs.
03Features and depth
PayPal covers more than installment checkout. Its wallet supports online and in-store payments, transfers, payment requests, merchant offers, and a debit card. The homepage also lists PayPal Savings, held at Synchrony Bank, and cryptocurrency buying, selling, and transfers. Pay in 4 and Pay Monthly are available subject to approval and availability. For businesses, the pricing page lists several payment setups, from hosted checkout to phone payments, with different fees and add-ons.
Splitit is narrower: it divides a purchase into installments on a credit card the shopper already has, without a new loan or lengthy application or credit check, according to its product information. Shoppers may keep earning card rewards, but card terms still apply, and paying the card balance in full each month avoids card interest. Splitit also offers pay after delivery and wallet installments; wallet installments carry a finance charge. Merchant plans allow up to 12 installments, but consumer APR varies by plan and can reach 35.99% on Essential and Flex.
04Ease of use and learning curve
For shoppers, PayPal is the broader option: it combines checkout, transfers, shopping features, and savings in one wallet. Sending and receiving money requires accounts, and Pay in 4 or Pay Monthly depends on approval and availability. Businesses have more pricing decisions to make, since fees vary by payment method and some tools cost extra.
Splitit’s shopper proposition is focused: use an existing credit card rather than apply for a new loan. That may be simpler than a new credit application, but shoppers still need available credit and should check their card terms. Merchants face a separate decision: Splitit’s plans are custom quoted, so the listed features alone do not show the final cost.
Questions people ask
How can I split up payments using PayPal?
PayPal lists Pay in 4 and Pay Monthly as installment options, subject to approval and availability. The available option depends on the purchase and checkout; the published product information does not publish eligibility details or a full payment schedule. Check the terms shown before confirming a purchase.
Which buy now, pay later option is easiest to get approved for?
The available information does not establish which is easiest to get approved for. Splitit says shoppers use an existing credit card without a new loan or credit check, but need to have that card. PayPal says installment options are subject to approval and availability; it does not publish approval criteria here.
What is PayPal?
PayPal is a digital wallet for online and in-store shopping, sending and receiving money, and managing savings. Its listed features also include a debit card, merchant offers, Pay in 4 and Pay Monthly installments, and cryptocurrency buying, selling, and transfers. Some features have eligibility, fee, or risk conditions.
Is it hard to get approved for Splitit?
Splitit says its card installments do not require a new loan, lengthy application, or credit check. Shoppers use an existing credit card, so having available credit and meeting the card issuer’s terms still matter. Splitit does not publish a general approval guarantee in the published information.