If you are a frequent shopper, you may have noticed a new option popping up during checkout- Buy Now, Pay Later (BNPL). This hugely popular program is getting embraced universally by almost every retailer to help its customers pay by maximizing their credit card shopping rewards in convenient installments. With Buy Now, Pay Later Stores– also available online, you no longer have to take loans or pay interest for using your credit cards and paying overtime. With this popular and flexible payment option, shoppers can now split their bills over specific terms and align with their paycheck cycles.
Most popular Buy Now Pay Later Apps include Affirm, AfterPay, Klarna, PayPal, Splitit, PerPay, and Sezzle. Also, most BNPL Programs are interest-free (if paid within an agreed number of installments) and hence more attractive than credit cards. Here is an overview of the major stores where you can Buy Now, Pay Later:
Amazon
Thanks to the new partnership of Amazon with Affirm, customers can now finance their items for more than $50. You can now opt for Amazon Pay Later payment option when you checkout and pay the amount over the months in EMIs- 3 to 12 months. It allows you to track your repayments and purchases and is a great choice for Buy Now Pay Later Shopping.
Image Credit- Amazon + Affirm
Etsy
If you are looking for customized, handmade products, you may explore the wide range of options on Etsy. Klarna offers installment payment options to Etsy buyers when they meet certain criteria. It works for orders between $50 and $250, available in four interest-free installments. You also get a customized interest rate and payment schedule.
Image Credit- Etsy + Klarna
Gap and Old Navy
Customers can now opt for Pay Later Shopping for purchases from $35 to $1,000 with the sister brands with AfterPay. Since late 2020, buy now pay later has been a popular choice at Gap, Athleta, Old Navy, and the Banana Republic. It excludes gift cards and is available at the majority of the stores.
Image Credit- Gap + Afterpay
Macy’s
After Macy’s sealed the deal with Klarna, customers can spread payments for in-store and online purchases between $10 and $1,000 into Four Interest-Free Installments. It excludes all the beauty boxes and gift cards. So now, you can pay with ease for your purchases and get access to products for you and your loved ones in a snap.
Image Credit- Macy + Klarna
Sephora
Everyone who loves makeup knows that the bill can rack up in no time. You can pay for your high-end Sephora products through Klarna on orders up to $1,000- except for subscription services and gift cards. Use Buy now, pay later for makeup at the Sephora site, app, and in-store. It is not just the cosmetic goods but Buy Now Pay Later Food Shopping is also a loved trend.
Image Credit- Sephora + Klarna
Target
To stay in the game, Target recently added two Buy now pay later options- Affirm for spending above $100 and Sezzle for other smaller purchases. This new payment method helps shoppers manage their budgets and pay at a pace that best works for the customers.
Image Credit- Target + Sezzle
Walmart and Sam’s Club
Previously, Walmart was the last remaining big retailer with a traditional layaway program. But with Walmart’s Buy Now Pay Later option through Affirm partnership, customers can enjoy the perk of paying later on items such as TVs, computers, furniture, and more. It is also a widely used payment option at Walmart-owned Sam’s Club. The store also accepts Klarna and PayPal payments in 4 installments.
Image Credit- Walmart + Affirm
Buy Now, Pay Later vs. Credit Cards
If you are not seeking payment flexibility of Buy now, pay later, you can always use your card with the Credit Card Management App to rack up rewards or cashback. Interestingly, most credit cards from American Express, such as American Express Blue Cash Preferred Card, offer both the cashback on your purchase as well as flexible payment options through their Plan It program.
Whether you decide to pay with a credit card or use a Buy Now, Pay Later option, the innovative approach of the free Uthrive App helps you maximize your reward points by notifying you of the best credit card for your purchase. Download the app now to get personalized recommendations from financial experts and enjoy extensive rewards on your everyday spending.
The Bottom Line
In recent times, the Buy Now, Pay Later option has been widely accepted by more and more retailers. But before you agree to pay in installments, make sure you know the number of payments you have to make for your purchase, the amount for each payment, and the interest. It is essential to take care of everything as falling behind on payments can damage your credit score.
