I have not heard anything about it actually replacing PayPal. Just another service provided and powered by PayPal. I applied for it to purchase a laptop online. I was declined due to "information not matching my credit report." When I called, I was informed that the billing information on my Experian report did not match what I entered. Lucky for me, I had my Experian data in front of me. I went through it line by line with the friendly care rep, and we both could not see anything wrong. He indicated that there may have been a glitch, or perhaps I needed to put St. for street rather than just the name of my street. His suggestion was that I apply for the card a few more times and see if it goes through. I asked him if this will result in additional credit card inquiries, or if they would be soft pulls. He told me that they were going to be hard pulls. When asked if he thought that it was a good idea to repeatedly attempt to get credit resulting in hard inquiries, he said, "well, do you really want the item you are trying to purchase." That just did not sound right. So, as of right now, I am not a fan of the Pay Later program. Just seemed like and irresponsible response.