Target has become the most recent retailer to offer shoppers a “buy-now-pay-later” option ahead of the holiday shopping season.
More retailers are moving away from layaway and instead using services that allow customers to buy now and pay later in installments.
Target said it has partnered with Sezzle and Affirm to allow shoppers to “take advantage of our best deals, and pay at a pace that works well for you. It’s a handy option during the busy holiday season and all year long.”
Customers first have to apply to Sezzle or Affirm then shop.
Target said Sezzle will split each purchase into four “easy, interest-free payments over six weeks, no fees if paid on time.”
Affirm can be used for purchases over $100. It allows customers to pay at their own pace with monthly payments and does not charge late fees.
We know our guests want easy and affordable payment options that work within their family’s budget,” said Gemma Kubat, Target’s president of financial and retail services.
Last month Walmart announced it would be moving away from its layaway program and instead offering the buy-now, pay-later option with Affirm.
“Walmart offers easy and affordable monthly payments online and in stores with Affirm, at a pace you choose – 3 to 24 months. Alternative to layaway, you can purchase immediately and pay over time,” Walmart says in a description of the program on its website.
The New York Times reported in August that Amazon will begin to offer the program with Affirm for purchases over $50.
Macy’s has adopted the Klarna buy-now, pay-later service for purchases between $10 and $1,000.
Bed Bath and Beyond has Afterpay. Your purchase is split into four payments, every two weeks.
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October 08, 2021 at 01:48AM
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Target joins other retailers offering ‘buy-now, pay-later’ ahead of holiday shopping season - PennLive
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