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PayPal will give you a two-week, interest-free loan

PayPal will give you a two-week, interest-free loan
photo courtesy of SHUTTERSTOCK

Sure you have to pay it back, but for 14 straight days, PayPal will give you free money - sort of. It's a new program called Pay After Delivery, and it means that you don't have to pay for an online purchase until two weeks after you actually buy. There are no fees or interest, just a two week buffer zone between the time you click "Buy" and the time the money is deducted from your bank account.

PayPal just announced this new program at an event in Las Vegas. It's designed to give buyers more confidence when purchasing online. You'll be able to get your product in the mail and make sure it meets your expectations before your account is debited. If it's not, you'll still have time to file a dispute with PayPal to stop charges. Online sellers still get paid out of PayPal's pocket - immediately.

Pay After Delivery has been available on a limited, trial basis in the U.K. and parts of the U.S. You'll need to enroll to use it at PayPal's website. If you do, you're subject to some terms that I recommend you read before using. You're also limited to purchases under $10,000 and you must link your PayPal account with your bank account.

At the same event, PayPal announced partnerships with Burger King and GoDaddy. Like Apple, Walmart and thousands of other major businesses, PayPal is jumping into mobile payments with both feet. By this time next year, you'll be able to order and pay for your food at every Burger King in the nation.

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