Shutdown Effect: PayPal Will Offer up to $500 Interest Free Credit for U.S. federal Employees
Employees who use PayPal Credit will be able to avail an advance of up to $500 each, without having to pay any interest, and the program will last until the government reopens and employees receive their first paycheck, the company said on its website.
PayPal is committed to funding a total of $25 million in interest-free cash advances for this program.
The partial shutdown, which hit the four-week mark on Friday, is the longest in U.S. history. The shutdown means 800,000 federal workers nationwide would continue to go unpaid and some government functions would remain impaired.
The shutdown also clouds the outlook for spending, retailers and the economy at large because executives and policymakers weigh not just the direct impact of 800,000 federal workers going without pay, but ...