Buy now and pay later services are gaining a lot buy now and pay later services. This allows you to delay your payments by allowing you to pay in installments over a period of time. The buy now and pay later services are designed in a way which allows the customer to buy the product immediately and delay the payment. This allows the customer to pay off the amount in the form of installments. this works of products with higher price value over a period of time. Nowadays, these kind of services is also provided for low value purchases like clothes and beauty products.

How does the payments services work

Buy now and pay later services are offered especially in online shops as another payment during the time of checkout. You can easily apply and set a purchase plan according to your app provider or the retailer when you are shopping. You might actually need to provide back details like credit card facilities to avail the offer. This is directly deducted as the days go by. You might be required to pay a deposit and also pay up the first installment up front to make the necessary deal.

Refunds and returns

if you have any problem with the product you just brought you can easily apply them to returns which can sometimes be a bit difficult or you might have to lose some amount in the process.

Is buy now and pay later services worth it?

These buy now and pay later services are advertised to be interest free and this can be very appealing to the customers. But one needs to be sure that the cost is going to add up if the payments are not made on time.

Smart tip

It is always a good idea to learn all the terms and conditions before you sign up, this allows you to be confident about your selection. Look for things like late fees cost which can be the fees that is being added up if you fail to pay the payments on time. There are also some service charges which is fixed for every month that you might have to pay for the service charge. You might also have to pay for the fee as a processing fee to help to set your repayments.

Check you credit history

Many buy now pay later providers do not check for the customers ability to pay based on your credit history. This means that you can end up taking more credits than you can actually afford. This can put you under trouble for not making your payments on time. This can also affect your credit score in the future.


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