Consumer Behavior

PayPal quite popular on Black Friday

Photo by istock.com

December 8, 2021

Black Friday shoppers tapped PayPal's buy now, pay later feature quite a bit on Black Friday this holiday season as use of the app option spiked 400%.

The payment feature, said PayPal CEO Dan Schulman, has been a "star" for the company this season, according to a CNBC report.

"During Black Friday, our volume on buy now, pay later was up almost 400% year over year. We did some 750,000 transactions alone in one day on Black Friday," Schulman told CNBC's Jim Cramer during a "Mad Money" interview.

"We did over 1 million first-time users for the first time ever in a month," Schulman added, putting its overall usage "well over 10 million consumers."