Covered in this guide..
What is Buy Now Pay Later?
Buy now pay later is a purchasing scheme that allows consumers to obtain goods or services either instore or online without paying the full amount upfront. The consumer is able to take the item home on the day by making a small deposit. The remainder of the price is then paid off in scheduled payments over a fixed time period.
Well known companies offering Buy Now Pay Later services in New Zealand are:
How much does Buy Now Pay Later cost?
It depends on the provider as to the fees and charges associated with Buy Now Pay Later. Many New Zealand providers offer interest free, no fee services based on the condition that the scheduled payments are made. If the buyer fails to make payments, fees will be charged.
How do I use Buy Now Pay Later?
At the checkout stage of a purchase, if a Buy Now Pay Later option is available, this will be visually or verbally known to the purchaser. If you are unsure whether the retailer has the Buy Now Pay Later option, you may enquire with the individual retailer. Often it is as simple as downloading an app.