KEY POINTS
  • Use of PayPal's buy now, pay later option surged on Black Friday, CEO Dan Schulman told CNBC's Jim Cramer on Tuesday.
  • "During Black Friday, our volume on buy now, pay later was up almost 400% year over year," Schulman said.
  • The CEO said short-term installment payments has been "one of the stars, actually, of the holiday season for us."

PayPal CEO Dan Schulman told CNBC's Jim Cramer on Tuesday that use of the company's buy now, pay later option surged on Black Friday.

In an interview on "Mad Money," Schulman said PayPal's installment payment service is "one of the stars, actually, of the holiday season for us."