I didn't receive the email, but I saw something about it in my biz acct the other day. As of a few days ago, whenever I log into my personal acct, there's a big advert for it.
I really have no use for it. I'd rather just use my credit card, especially since they need to approve you before each purchase. So, you need to have a backup plan anyway. I may try it one day just out of curiousity.
I can see this being really useful to people who don't have credit cards or don't want the balance reported to the bureaus. The good thing is that there's no hard pull.
@blindambition wrote:I also got this email today. Something I'd most likely never use, but I think some might see value. I guess it's a holiday hook for them. Paying one payment, followed by 3 more.
That's what I'm thinking, too.
@Credit12Fico wrote:Was able to use Paypal's Pay-In-4 to pay an insurance policy. The neat bit is I was able to get the pay in full discount with the insurer, while using Paypal's plan to pay over time with an interest free loan over a period of 2 months. Could I have just paid in full immediately? Sure, but I was just curious to see how this works and what the merchant code will be so here goes. I'm pretty sure it will not appear on my credit report.
Edit: It shows up as "Paypal *PYPL Payin4" on the card statement. So it takes away any category bonus for the merchant you shopped with.
That's interesting, thank you for sharing!
Another update. I tried to take out a second Pay-In-4 plan for about $400 (because paying later gives me such a thrill 
). Application was denied due to outstanding balances (which is about $300). I received a secure message in Paypal giving the following reason.
We regret that we are unable to approve your request at this time for the following reason:
Total Balances On your outstanding Pay in 4 loans is too high.
Thank you for your interest in PayPal Pay in 4.