Step aside layaway, when people think of you it will soon be like a flashback to the 70s or 80s when Hawaiian shirts seemed to be everywhere you turned your head. There is an additional option for many that people are noticing during the checkout at their favorite online stores (and even select local stores).
This is none other than what many have come to known as Buy Now Pay Later shopping, or at times referred to in its shorter form “BNPL” shopping. It is kind of like layaway, but way better and can even come without heft interest charges. In fact, the only thing that it comes with is convenience, opportunity, and self-enablement.
Got your attention yet? Good, let us continue this process of enlightenment, shall we?
Is Buy Now Pay Later (BNPL) the Same as Lease-to-Own (LTO)?
While they both serve the same concept, to deliver consumers with the items that they need broken up into multiple payments over time that they can afford. For many retailers, it is a no-brainer, and you will see most (but not all) leading online stores and even local brands offering BNPL payment solutions.
The Truth About POS Lending: Is It Another One Hit Wonder?
While it is a new face in the world of both online, as well as offline shopping, it seems to be catching on by storm which means that it is most definitely gathering its strength. With that said, it does not seem that one could believe that this is just another overnight sensation.
Buy Now Pay Later = A Trendsetter
(NO DOUBTS ABOUT IT!)
Here’s How It Looks When It is All Added Up & Taken into Consideration
While there are pricier BNPL lenders out there, many of the market leaders offer financing without any interest being charged whatsoever. If you cannot wait for that big purchase, or you need a little extra spending money, the short-term financial obligation that it requires could very well be worth it.