PayPal offers short-term, no-interest payments and other special financing options that let you buy now, pay later. PayPal Checkout includes a Pay Later offer at no additional cost to you.

It's available for eligible U.S. buyers to pay in four interest-free installments. (This feature is only available for orders over $30)
A PayPal line of credit is a revolving line of credit that you can use to make payments in installments.

The first payment is due at time of purchase and the remaining three will be automatically repaid every two weeks. Repayment will be made automatically from your PayPal account using your chosen payment method
If eligible, your existing PayPal button will change to display the new Pay Later button. They offer the flexibility to pay, buy now, pay later when you choose to pay later.

Integrate the PayPal JavaScript SDK to display a "Pay later" button during checkout.

Pay later messaging helps you take advantage of PayPal's Buy Now, Pay Later offer.

What happens if I miss a Pay in 4 payment?
If you know you won't be able to make the repayment, it's best to contact PayPal and let them know in advance.

If you miss a payment, you may receive a letter from PayPal's internal collections team. PayPal warns, “Missed payments may have adverse consequences, including limiting your PayPal account, us taking legal action against you, and/or reporting default information to credit reporting agencies, which may impact your ability and cost to: Further credit.”