Sites Like Afterpay

Afterpay allows and gives you that freedom to shop by choosing a store included in the Shop Directory, and if approved, you can select Afterpay as your payment method upon checking out. 

In that case, all you need to do is install the mobile app and follow all the instructions to set up the Afterpay Card, and in just a few steps, you can start using both Apple and Google Pay to ensure contactless payments.

This article aims to introduce to consumers platforms that allow them to buy products they need and want and pay later, often with zero interest rates. Options similar to Afterpay with low monthly payments, so they can better plan their financial future.

In this article, you will learn more about the buy now pay later service, other apps with a similar purpose, how they compare to Afterpay, and their pros and cons.

What are Buy Now Pay Later (BNPL) services?

Buy now, pay later services, or BNPL is another way for consumers to buy items and services if they still need cash or a credit card.

BNPL service is also a method if buyers want to avoid committing to paying the amount upfront and would like to stretch this into a more extended payment period.

Businesses use pay-later services, whether online retailers or not; having this option to accept purchases and allowing them to pay in installments will be more likely to have higher order value, and they will achieve more customers.

The Pros of Using BNPL Services

• Interest-free payments
• Purchase items by setting up an account in a few steps
• Your favorite stores can spread out payment plans
• Fast and instant approval decision
• Convenient availability of installment plan

The Challenges Consumers Need to Face Using BNPL Services

• They tempt you to do larger purchases
• Hidden costs both from online stores and other retail partners
• No later solution for upcoming payments
• May have an impact on your ability to be approved of loans
• Splurging on fees you may not have even earned yet

Reviewing the Advantages and Disadvantages of Buy Now Pay Later Services

1. The best benefit you can think of when using a Buy Now Pay Later arrangement is its convenience. BNPL providers are mostly incorporated within apps or in-store checkout processes, making your shopping experience easier and paperless.
2. A payment plan is available, which only means you can spread your budget over a few months, or sometimes you can pay them within one to two years.
3. BNPL is also one of the many ways you can buy when you do not have cash or credit cards
4. Paying via Afterpay and other similar arrangements is fast and easy to set up.
5. Interest free payments are all over the market! There are several options including four interest free installments!

Again, the challenges that needs to be overcome with buy now, pay later could be the following:

1. Sometimes, consumers are not able to control their buying. 
2. Some pay later service has a minimal credit check.
3. There are late payment fees or hidden costs when buyers are unable to pay on or before the due date (which is usually the case with all installments)
4. Buyers usually do not have any control over when you need to make the specific amount you need to pay
5. Since consumers can buy products without money, there is a more tendency to buy more items

Equally Growing Buy Now, Pay Later Services Like Afterpay

1. Klarna

Get extended time to pay with one of the top sites, just like Afterpay. Check out from Klarna: where you want to shop for your dream product and pay later through their app! All you have to do is download their app and familiarize yourself with all the possible discounts and deals you can get from buying.

Using Klarna buy now pay later option, you can discover endless items you can like, from your next pair of sunnies to your latest gadget; check your favorite store and best sites to see if they offer Klarna! You can pay in four installments at any of your preferred shops without worrying about installing anything.

Pros

• First, if you need more time to pay, Klarna can assist you with 6-24 months of financing plans! Their zero interest rates are available; depending on your purchases, this can go up to 29.99% APR.
• Second, you can also opt to pay in 30 days. Klarna is flexible and happy to assist you without worrying about hidden fees.
• Third, you can split into 4 payments without any interest which will automatically be charged every two weeks!
• Lastly, if you have your credit card or debit card, you can pay in real-time and be more proactive about your expenses. You can even have notifications in the app if you want to know updated or recent prices

Cons

• Mandates a soft credit check for first-time customers
• Sometimes, customers with late and missed payments will be reported to credit bureaus
• Klarna charges late payment fees

Comparison with Afterpay

Klarna and Afterpay are both methods that customers can use to purchase online products and those that they can buy from physical stores. The difference between the two is Afterpay is exclusive to affiliated shop online in-store, while you can use Klarna in any store accepting credit or debit card payments.

Click here for a list of 100s of stores that accept Klarna

2. Quadpay

QuadPay (now known or also known as Zip app) is a modern payment method, again just like Afterpay, for e-commerce and both online and offline shopping customers.

And just like other methods that have payment terms, Quadpay allows four payments in installments, interest-free, that is good for six weeks or over. This is also what we all know by heart as a buy now, pay later method that gives you flexible payment options. Buyers pay four equal fees.

It is so easy to use the Quadpay app. It works like other best apps. If you have favorite stores where you want to buy the item that you would like to purchase, choose “Pay with Quadpay when it is time to pay, ” as this will complete a virtual credit card that will help you succeed.

Pros

• Quadpay has fewer payments or fees. You will not be required to pay a lump sum amount, and there is no interest added.
• They have what they call staggered payment options. This is the same as being flexible or can make a payment in a longer period of time.
• Approval is also easy to achieve. There are no credit checks and the requirements are achievable meaning you just need to have an existing credit card/debit card and you need to be 18 years old and above.

Cons

• It is a good Afterpay alternatives, they do not charge interest as well but they charge late fees.
• It is tempting if you hear “staggered payment option” but the truth is, it can also be challenging to keep track of your payment especially you are unsure when hidden fees may occur.

Comparison with Afterpay

Coverage is the key, where Afterpay has an advantage over Quadpay. The biggest payment platforms are available on websites and shops for home and lifestyle, e-commerce, and many more.

3. Affirm

You probably know the drill. Affirm is a buy now pay later that allows users to purchase goods such as home furniture or services such a pet grooming services offered by online merchants and utilize their cash flow by paying off on fixed monthly payments.

Signing up is easy to do. Within a few steps, both the customers aiming to buy a piece of furniture and an offered installation service from the same supplier can be successfully be achieved via Affirm.

Choose the items you want to purchase. On the checkout page, choose Affirm. Complete the details needed. You will be able to know if you will be approved for the loan or not. Check your payment information, finalize the loan, and await your orders. As easy as 1,2,3!

A few reminders:

• You must be 18 years and older if you are signing up for Affirm (19 and older if you are in Alabama or from a ward state in NE) Not an option in IA and WV.
• You must have a valid US home address. If none, APO/FPO/DPO home address is also accepted.
• You must have a working US mobile number.
• You must verify your name, birthdate, last 4 of SSN, and email address.

Pros

• The benefit of Affirm is there are no late costs, service and prepayment costs, or hidden fees.
• Affirm's on the go features allow customers to take care of purchases.
• Affirm is not a rotating line of credit not like a regular credit card.

Cons

• Affirm can possibly check your credit history. The interest rates start from 10-30%; consumers tend to prevent diving in and may want to check other companies first.

Comparison with Afterpay

Afterpay will allow consumers to pay in installments, whereas Affirm will let consumers pay the total amount in one payment, usually within a month.

4. Sezzle

Sezzle works the same as the first three apps. It's pretty much the same. It is a buy now, pay later app, and they use special approvals procedure, and the system will determine the correct payment option or that will match you.

There are distinguishing differences, such as the 4 installments do not have interest, no hidden charges as long as you pay on time.

Merchants fulfill orders promptly.

Pros

• Sezzle does not do hard credit check on their customers
• Easy and seamless payment plan
• Guaranteed no interest on purchases

Cons

• Sezzles does not handle refunds. Customers need to get in touch with their merchants.
• There are credit limit for first-time customers
• There will be fees for failed or late payments

Comparison with Afterpay

Sezzle, as Afterpay, is obviously a buy now pay later service, too. They differ in their availability of coverage in some areas, credit limit, and late fees.

5. Splitit

Splitit ensures your purchase. They put a hold on your credit card, while the total amount is unpaid. Just to be clear, this is not yet a payment, but more of a pre-authorization that will give you time to settle what you owe before they add an interest. Pay as you go, and Splitit will re-authorize the hold and lower the payment each month.

Pros

• Splitit makes it easy to split up into small payments and makes for customers' credit card to pay off
• Easy and convenient. Customers do not need to sign up or seek approval to use Splitit but just needs a credit check to purchase items.

Cons

• Some customers gave feedbacks that Splitit tends to charge the card the purchase's full amount and the first payment all at the same time.

Comparison with Afterpay

The credit limit of Afterpay depends on the credit profile while Splitit depends on the credit limit of the card limit of the customer. It is still a great Afterpay alternative but it is slightly different.

6. Partial.ly

Partial.ly is a software created to help consumers to schedule payment plans. This app can also process payments to make it seamless and simplified.

Pros

• Partial.ly embedded their widget in their application. Doing this feature allows customers to have the option to split up their payments.
• App is convenient and easy to use.

Cons

• This is both for merchants and consumers who want to track marketing conversions or if they want to check how Partial.ly is doing as far as marketing conversions are concerned. Tracking is challenging on Google Analytics.

Comparison with Afterpay

Partial.ly is more of a business collection tool and may increase the cash flow of customers by giving them payment plan options while Afterpay carefully splits up payments giving you more flexible options.

7. Openpay

Openpay is also a BNPL app allowing consumers to spend and pay what they buy over time without incurring any interest. You can flex payments up to 24 months and in installments, weekly or fortnightly.

Pros

• Openpay has a lot of participating merchants which makes it super convenient to all their consumers.
• Auto payments are available.

Cons

• Just like other buy now pay later services, Openpay tends to also run a credit check on their customers.

Comparison with Afterpay

Afterpay can give you time to pay them back approximately over six weeks in four installments, while Openpay allows you to make planned payments from 2-24 months.

8. PayPal Credit

PayPal Credit allows consumers to reuse credit lines constructed into their accounts. Paypal enables the flexibility to pay and spend on real-time purchases or pay within a specific timeframe. It is an open-end credit card account, meaning it is revolving.

Pros

• Great zero interest for purchases more than $99 and this can be spread within six months. Paypal is one of the most accepted payment methods by most brands, making it very convenient for all their consumers to utilize this method.
• Paypal Credit also sends payment notifications, so consumers avoid late or missed payments.

Cons

• All payments or money paid through Paypal gets a 2.9% plus a $0.30 fee.
• If you bought an item below $99, you could not take advantage of the interest-free option.

Comparison with Afterpay

Both Paypal Credit ad Afterpay cost money. Bill me later is flexible in purchasing without any credit card.

8. Zip

Zip allows you to make purchases without requiring you for any upfront payment. Without any interest, you can choose to repay what you owe weekly, fortnightly, and even monthly – definitely a big help for customers who would like to stretch their expenditures!

Pros

• Consumers can choose their preferred payment schedule.
• Customers are also charged $5 for their balance owed after the first month.

Cons

• Customers can reprimand the merchants for fees that are associated for using Zippay's method even though it is not their fault as the business owner.

Comparison with Afterpay

Both allow consumers to immediately pay the products or services they needs without enforcing the payment since both have flexible payment options.

10. Laybuy

Laybuy's buy now, pay later allows you to extend the payment plan up to 3 months or beyond.

Pros

• Laybuy is also interest free. Consumers can purchase up to double if they get the same product using store credit.

Cons

• Cancelling Laybuy will incur a 1% cancellation fee

Comparison with Afterpay

It's practically the same, Laybuy allows you to pay your pre-purchased items for up to 6 weeks or more, while Afterbuy is a BNPL that lets you pay in fortnightly payments.

We hope you have somehow gotten a grasp of what “buy now, pay later” services are and those sites like Afterpay.

This option is offered to customers at each point of sale so they can proceed with merchandise, mainly without a credit card. And there are so many choices compatible with consumers.

BNPL will continue to develop with all the possibilities of establishing new solutions. They will continue to offer customers financial assistance and strengthen engagements!

Looking for catalogs from stores that offer Buy Now Pay Later options? Check out our Top 10 Buy Now Pay Later Catalogs.