Buy Now Pay Later
App Reviews
There are a number of buy now pay later apps available in New Zealand which allow you to shop online and pay for your purchases over time. This can be a great way to manage your finances and avoid getting into debt. Afterpay is a service that allows you to shop online and pay for your purchases over time. This can be a great way to manage your finances and avoid getting into debt. There are a number of buy now pay later apps available in New Zealand which can be used to make online purchases.
Top 3 Buy Now Pay Later Apps
There are a few different “buy now, pay later” apps available, but the top three are Afterpay, Laybuy, and Humm. Each of these apps work differently, but they all essentially allow you to make a purchase and then pay for it over time, interest-free. Lets look at the top 3 buy now pay later apps in New Zealand.
01 :
Afterpay
If you’re new to Afterpay, you may be wondering how much it costs to use this popular buy now, pay later service. We’ll break down the fees and rates associated with Afterpay so you can decide if it’s the right payment option for you.
What is Afterpay?
Afterpay is a payment service that allows you to shop now and pay later, interest-free. You can use Afterpay at participating online stores, and you can also use it in-store at select retailers.
Afterpay Requirements
To use Afterpay, you must be over 18 years old and have a valid debit or credit card. When you checkout at a store that accepts Afterpay, you’ll need to provide your name, email address, mobile number, and the last four digits of your card.
Afterpay Payments
Afterpay will then approve your payment and you’ll be able to complete your purchase. You’ll then have four equal payments to make over an eight-week period.
The first payment will be due when your order is processed, and the remaining three payments will be deducted automatically from your card every two weeks.
Afterpay Fees and Rates
- If you make a late payment, you’ll be charged a $10 late fee.
- If you miss a payment, you’ll be charged a $35 missed payment fee.
- And if you default on your payments, you’ll be charged a $70 default fee.
- There are no interest or hidden fees associated with Afterpay.
- The only fees you’ll need to pay are the late, missed, or default fees we just mentioned.
- However, it’s important to note that some stores may charge additional fees when you use Afterpay.
For example, some stores charge a $2 “order service fee”, and others may charge a “payment processing fee”. These fees vary from store to store, so be sure to check the terms and conditions before you checkout.
Our Review
Overall, Afterpay is a great way to shop now and pay later, interest-free. Just be sure to keep an eye out for any additional fees that may be charged by the store.
02 :
Laybuy
Laybuy is a payment option that allows customers to buy now and pay later in 6 weekly installments. There is no interest or added fees, as long as you pay on time.
If you miss a payment, Laybuy will charge a $10 late fee. If you default on your payments and Laybuy refers your account to a collection agency, you may be charged additional fees.
Laybuy Use
To use Laybuy, you first need to create an account and link your debit or credit card. Once you’ve done that, you can shop at any of the thousands of stores that accept Laybuy.
At checkout, you’ll select Laybuy as your payment option and enter your 6-digit Laybuy ID.
The total amount will be split into 6 weekly payments, and you’ll be prompted to confirm your first payment. Once you’ve made your first payment, Laybuy will pay the store immediately.
Each week, Laybuy will automatically deduct the payment from your linked card. If you need to return an item, you’ll need to follow the store’s return policy.
Laybuy does not currently offer refunds, but you can cancel your payments at any time before they’re processed. Laybuy is a convenient way to shop without having to pay upfront.
There are no interest or added fees as long as you pay on time, making it a great option for budgeting.
Our Review
Laybuy is a New Zealand-based company that provides a payment service allowing customers to buy now and pay later. There are no interest or hidden fees, and customers can make partial or full payments anytime. Laybuy’s fees and rates are very reasonable, and their customer service is excellent. I would highly recommend them to anyone looking for a payment plan option.
03 :
Humm
Humm is a buy now, pay later service that is available in New Zealand. This type of service allows you to make purchases and then pay for them over time, without having to pay interest or fees.
Humm is a great option for those who want to make a purchase but may not have the funds available upfront. It’s also a good way to spread the cost of a purchase over time, without having to pay interest. To use Humm, you simply need to create an account and then select the ‘buy now, pay later’ option at checkout when making a purchase.
You’ll then have the option to pay for your purchase over time, in monthly instalments. If you’re not sure whether Humm is right for you, it’s always worth checking out the terms and conditions before signing up. This way, you’ll be sure to understand all the fees and charges that may apply.
If you miss a payment, you will be charged a $10 late fee. If you default on your payments, you will be charged a $35 default fee. Humm is a convenient and flexible way to shop now and pay later. There are no interest or added fees, and you can choose a repayment option that suits you. However, there are some fees to be aware of if you miss a payment or default on your repayments.
Humm Overview
Humm is a buy now, pay later service that allows you to shop now and pay later with flexible repayment options. There is no interest or added fees for using Humm, however there is a monthly account fee of $6. This fee is waived if you make a repayment within the first month. Humm offers a variety of repayment options to suit your needs and budget. You can choose to pay off your purchase over 8, 10 or 12 weeks, or you can make fortnightly or monthly repayments. The minimum repayment amount is $5 per week or $10 per fortnight.
Need Help With Buy Now Pay Later ?
Let us help you with buy now pay later in New Zealand. Be our next success story !
