What is the Walmart Buy Now, Pay Later program? Why is the layaway program rejected?


Walmart left with its “Set apart“which had allowed customers to make payments on purchases over a long period of time. However, Layaway fans shouldn’t be concerned as the company announced a replacement program called, Buy now, pay later.

Many still wonder: will the new program offer the same benefits?

What are the differences between the programs?

Walmart announces the new program as a improvement over Layaway.

What types of products can be paid for with Affirm?

What types of products can be paid for with Affirm?

There are thirteen groups of eligible articles for which Affirm can be used:

  • Electronic
  • Video games
  • Toys
  • Home
  • Arts and Crafts
  • Musical instruments
  • Home improvement
  • Auto
  • Sports and outdoors
  • Tools
  • Babe
  • Jewelry
  • Clothes

On its website, the company states: “As an alternative to layaway, you can buy immediately and pay gradually at the pace of your choice—From 3 to 24 months. “

Buying Now, Paying Later a Credit Card?

The program is in an uncomfortable place between a credit card and store credit system. The program is made possible through a collaboration with To affirm. Affirm is a credit card company that claims to be on the consumer’s side to avoid the accumulation of debt.

However, through their collaboration with Walmart, they are offering consumers a loan rather than a credit card. To be able to use Affirm, customers must apply, what Walmart clearly states will not affect the credit rating. During the application process, Affirm will let you know if you are eligible for the promotion “0% APR. “However, consumers should be warned that many can see a APR between 10-30%.

This means that your purchases with Affirm will be earn interest, that you will be on the hook to cover in addition to the main. Affirm can only be used on purchases between $ 144 to $ 2,000.

If you choose Affirm at Checkout, the company will put you in touch with a lender willing to con the purchase price. To reassure customers, Walmart pointed out that when paying, we will see the “total amount of interest you will pay, never charging you anything more. “

Failure to repay loans within the deadlines set by Affirm could have a negative impact on a customer’s credit.

How did customers react?

While the company says it believes the new program will better meet the needs of its customers, some are not happy with the decision. The layaway program did not require a credit check, many believe that they could lose access to the benefit. Some disgruntled customers have taken to social media, blaming the company for making the decision so close to the holiday season.


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