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Wondering what does shop now and pay later means? It’s the method by which you can purchase now and make payments for it later. The most significant benefit of this is that it’s free of interest charges. This appears to be the dream of any Luxury shopper!
Have you seen the payment options such as Afterpay in outlets and online stores recently? This has altered the way how millennials make their purchases. Such services provide a flexible payment mode and allow you to purchase right away. Clever Shop List reports that lots of retailers in Australia are getting on board and most online retailers are offering Afterpay. This method is not only gratifying but also convenient for buyers. Let’s check out this transaction mode in detail.
Afterpay is the latest payment method that has developed quickly within two years. It has drastically revolutionized the method by which Millennials make their purchases. Having over 2 million buyers purchasing from almost 8600 merchants using this service has boosted their sales. Among their customers, Millennials make up to around 67%. It offers the financially tight Millennials a safe method to satisfy their shopping addictions. The registering procedure for this method is quite simple. It does not use credit checks or any upfront charges. The service provides both in-store and online options. It classifies as a sort of small loan facility. Here you can make payments through 4 installments in 8 weeks. The best part is you can avoid lump sum payments while buying. So who wouldn’t prefer to use this method of payment?
It appears as a game-changer for splurge buyers. Specifically for the ones who indulge in shopping things they see but can’t afford immediately. Those days of saving and waiting are done with! You no longer have to put off for weeks to get that gorgeous dress. Using this method, you can get the dress and wear it on the same day without even making any payment. With the upsurge of partnering retailers and lack of interest charges, this service is advancing to the next level.
Here are the benefits as to why you should start using Afterpay.
1) Use Immediately
The setup procedure for this service only takes a few minutes. Once done, you can directly head to the online stores of Afterpay. You are all set to splurge on the money you don’t have. The benefit of zero waiting time of buying and owning the product is noteworthy. Purchasing from this service allows you to claim ownership of the product immediately. Here buying takes place without even swiping your credit card once. You only need to provide your contact number, email id, and payment details while signing up. After that, you are all ready to buy what you like and enjoy.
2) Zero Interest Fees
Have you ever come across a credit system that is devoid of a catch? As you shop using this service, you don’t have to pay extra interest charges along with your installments. The installments include only the cost of the product. You also don’t have to worry about early payout cost or application charges. The only additional charges you may incur are the late payment fees which are fair for the service provided.
3) Integrates Organically
This service integrates completely using the check out system of online stores. It serves as an advantage for impulsive buyers. Instead of using MasterCard or Visa for payments, you need to select the option Afterpay. On sorting out the transaction mode, you will receive an email about the payment plan. It’s that simple!
4) Automated Payments
You don’t have to worry about missing payments or making payments on your own. Once the installment is due, it’s withdrawn from your account automatically. All you have to do is to ensure you have sufficient balance in your account for making the payments on time.
5) Offers Both Online And Physical Stores.
To get the benefit of those services, you don’t have to stick to only online shopping. There are lots of stores that have the buy now and pay later option. Not everyone can go for online shopping. So a physical store is an invaluable method for some buyers. Do you think if physical stores will work? Here’s how. Before going to the store, go online and choose the amount you wish to spend and enter your details. After selecting what do you wish to buy, scan the barcode using Afterpay app and show it at the checkout counter.
6) Has A Spending Limit
This service has an automatic system which decides how much you can spend. It’s based on your successful payments in the past and the duration of your membership. This can serve both as a hindrance and help. If you never had issues in making timely payments, then you can lavish how much ever you want. Of course, only at a reasonable rate. However, if you have slacked in paying the installments, Afterpay might place a cap on your account.
Is Afterpay the smart way? Well, this is the best option for those who can manage their spending. Before making any purchases, see to it that you can afford the installments. It’s essential to create a budget, make your spending limits, and stay on top of the expenses. If you have any further queries, feel free to get in touch with us.
Rohan Pandya is a Blogger, Youtuber and an entrepreneur who loves to explore latest technology on the web everyday. He thinks When You Are Young You Believe The Possiblities Are Endless.