PayLater buy now pay later is a feature of e-commerce and marketplaces that are promoted to increase their sales turnover. This PayLater feature is also known as installment purchases. If you buy goods using the Paylater feature, you can pay for the goods according to the due date, either in full or in installments. For customers, the PayLater feature is very easy to use, no credit card required and the process is fast. Besides these advantages, of course there will be disadvantages of PayLater, such as making debt habits etc. What do you think, PayLater Helpul or not.
PayLater: Helpful or Not
- Thread starter Suba
- Start date
I have heard of this and I have been offered this by many of these companies but have never took advantage of the offer. I used credit cards with rewards which is also A mistake. What happens is you try and buy stuff to get your rewards high and before you know it, your interest is so high monthly that the rewards you earned all year are wiped out with one to two months of interest. Now the stuff you bought , you are not paying double or triple on the items. Think before you buy now and pay a lot later
- Thread starter
- #3
I agree with your opinion, often we have to pay a high amount to buy installments either by credit card or PayLater, even 2 times the price it should be. So I think it would be better if we can avoid buying installments or PayLater.
- Thread starter
- #5
You're right, PayLater will make it easier for us to get the items we need immediately, even though we don't have money at the moment, the loss is that we have to pay interest and if it's late it will be billed by the debt collector.
Buy Now Pay Later is also getting popular here. I've never used it because I only want to buy the things I can afford. That said, I use credit card for cash back. I do not need to pay annual fee for the card and I always pay my credit card bill on time. Never paid any penalties or interest.
- Thread starter
- #9
PayLater raises Pros and Cons, there is convenience about paying, also the negative impact will make the habit of being in debt, those of you who are not used to having debt will certainly not be able to sleep, and make you very anxious.
Paylater in my opinion is the same as interest-bearing debt. As for me always staying away from Paylater, it's better for me to save before I decide to buy something. Or if pressed by circumstances, it's better if I borrow money from friends or family without interest. LOL
- Thread starter
- #12
Paylater will be very useful for people who are used to being in debt, but it will be a frightening specter for people who are not used to being in debt, they prefer not to have things, rather than having to owe.
It could be helpful in the sense that it can help you easily get the things you need. But some people use it as an avenue for incurring debts without paying back thereby putting the business in a difficult situation.
I've also seen some physical shops that offer this kind of services as well to their customers when they have to pay for items on installment and it helping them to make sales.
It helps to sell faster though but the challenge is always in the capacity to ensure that you are being paid. Humans can be very funny. In my clime, before I agree to a pay later option as a business person, I would ensure that you have given a standing order on your salary account that I be paid immediately your salary enters. Without that, no pay later deal
