We have introduced many posts of ‘Buy Now Pay Later’, now you may have already known the concept of PayLater App.
As one of the best ‘Shop Now Pay Later‘ App, PayLater by Passfeed offers you this modern payment solution. Especially when you go shopping at Passfeed, this payment method help you split your orders into 4.
Yet you may have some concerns about why you should use ‘Buy Now Pay Later‘ option instead of credit cards. Will it be safe to use it or other worries.
Before using PayLater, we will go through the comparison with you. And help you make a better decision to shop online.
Why PayLater by Passfeed is so popular now?
Due to the economic recession in recent years, more and more youngsters prefer to have ‘Buy Now Pay Later‘ option. Even they may not use this option, but they will appreciate they can get the choice.
Most people in the new generation are still in debt, some are still paying back their student loans. And some are ruined by credit cards.
That’s why PayLater is here to help. PayLater by Passfeed has known this new generation’s behaviors. By offering them a solution of splitting orders into 4 installments. Customers can reduce their purchasing stress while they want to make a larger purchases.
Instead of paying your full amounts, it gives you a chance to enjoy everything first. All your bills can be paid later.
How does PayLater by Passfeed work?
The concept of PayLater is what it sounds like. It means you can ‘Buy Now Pay Later’, and allows you to break down your amounts. So you can pay your purchases with an installment plan. In other words, you do not need to pay your full amounts upfront.
For example, if you make a purchase of $1,000, with PayLater you can split the fees into 4 installments of $250.
Actually this BNPL concept is not fire-new. But Passfeed has helped the market to improve customer experience. With PayLater by Passfeed, you will not get any hidden or high-interest fees like credit cards.
Unlike traditional banks or credit institutions, it is instant approved. Once you download Passfeed APP, you can use it to buy what you need.
The Difference of PayLater & Credit Cards
No doubt most people agree ‘Buy Now Pay Later’ is a nice payment option. But what’s the exact differences of PayLater & Credit Cards?
Here are some comparisons, so you can know each other better.
Instant Approvals
Compared with credit cards, it is easier for you to apply the ‘Buy Now Pay Later’ service. While credit cards need a complicated application process, you can make it more simple with PayLater. Instead of a long verifying time, It lets you get approved instantly.
You can create you account on the Passfeed App easily. With one click, you can shop what you want immediately with PayLater once you download the App.
Save More and Pay Less
Some people will insist the services of credit cards and PayLater are the same. They said credit cards could also let you shop your products now and pay the bills later. But normally you need to pay the high interest fees of credit cards. Banks and credit card companies are using this way to earn your money. Contrarily, the concept of ‘Buy Now Pay Later’ is different.
Although we can not stand for all ‘Buy Now Pay Later’ services, the fees of PayLater are transparent. It offers you a ‘Shop Now Pay Later’ payment solution, and it’s interest-free. You do not need to worry about any hidden or extra fees. Moreover you will get friendly reminders via emails, so you will not miss your due date.
With PayLater, you can save more money and pay less. Before your due day, you can have extra time to invest and get more income. All your orders will be split into 4, and you do not need to pay upfront until 30 days later.
Less Risks
Some credit cards holders may have the terrible experience of late payment. Once you forget to pay back your credit cards, the companies will charge you a high interest fees. As a result, you will suffer the stress of being in debt.
But with PayLater, you can reduce your risk of being in debt. Unlike credit cards companies, most products are affordable at Passfeed. Also you can split your payments into 4.
Even if you lose your lose your wallets, you do not need to worry about your PayLater. Unlike credit cards, you need not to re-apply your cards, since it could be seen as a digital payment method. It is more secure and convenient.
Can PayLater replace credit cards?
There is a trend that more and more people changes their payment method from credit cards to ‘PayLater’. Because the new generation prefer to buy things first and pay them later. With the convenient payment option, their behavior has changed.
Besides, due to the high-interest rates of credit cards, it is not easy for a newer to apply one, and most people may overuse the cards. As a result, people who are using traditional credit cards may be in debts.
The concept of ‘PayLater’ is to make shopping easier, improve your experience and simplify your payment process. It would be an alternative of credit cards.
Final Thoughts on PayLater
When you go shopping online, PayLater is a great payment option nowadays. According to Passfeed, recent decades have seen a surge in the number of PayLater.
Unlike credit cards, PayLater offers you:
- Instant approval
- Extra time to earn more
- Less risks of being in debt
No doubt it is the best choice for the new generation.
Download the PayLater by Passfeed App to start your smart shopping.