That is, these are the financial platforms or payment methods used when purchasing electronic items with credit.
1. Financial provider after payment
Afterpay is a financial provider that allows buyers to buy electronic devices with credit at most electronics stores. To purchase after payment, you need to link to your master visa, debit card, or credit card. You can then purchase the electronic device with credit, provided you pay in installments according to the agreed period. Your repayment contract is to repay the first quarter of your debt in the first week and repay the remaining quarters within the remaining two weeks. After payment, they do not have interest rates on their services.
However, if you delay payment of the agreed fee, you will incur a penalty or delay fee. The company also does not check credit interest before funding its customers.
2. Quadpay becomes Zip, financial provider
Quadpay is also a financial provider. This completes the purchase, later you pay for various electronic product plans and are allowed at various online shopping malls. The company has no credit control over its financial history and no interest rates on its services. This allows customers to purchase items and pay in installments later. After purchasing an electronic device. You must pay monthly, biweekly, or weekly until your debt is fully repaid. Quadpay Pay is not interested in your service, but there are penalties for late payment of your debt.
3. Open Pay Financial Provider
Unlike others, Open Pay is an online financial provider that allows you to buy electronic devices for free and pay later. Instead of electronics, you can buy cars, medical care, furniture and more. Mobile applications are reportedly downloaded from the Google Play Store or App Store. After downloading the application, you need to open an account with your personal data and link it to your visa or Mastercard. This is because the payment is automatically deducted when the installment payment is paid.
Like other providers, Open Payments has no interest rates on its services. They have a fast, reliable and convenient service. To be eligible for service, you must be at least 18 years old and have a valid ID card, various phone numbers, a verified email address, and a valid visa or Mastercard.
Benefits of buying now and paying later
Providing emergency assistance: As mentioned above, money is a scarce resource. The biggest advantage of buying now and paying later is that it is urgently helpful in buying or buying electronics if you don't have the resources. No Interest Rate: Normally, this service has no interest rate.
This means that it helps you to buy electronic products at no additional cost. Order value improvement: Poor quality electronics are dangerous to use. They also have a short wingspan. Due to limited resources, you may be forced to buy a poorer product than a cheaper one. Buying now and paying later will help you buy the highest quality products without fear of limited resources.
Disadvantages of buying now
Everything that has advantages has drawbacks.
There is a payment delay penalty-If you are late in paying for your electronics, you will have to pay a higher price than the actual price of the product. This is due to the high fines. It can ruin your credit history-if you don't pay for the device you purchased with credit, you can ruin your credit history. This will prevent you from getting other credit help in the future. Discriminatory-Not all buyers are eligible for a purchase and will pay the offer later. There is no credit check, but this offer is only offered to buyers who can repay their debt.
Payments for electronic devices purchased with credit may be long-term or short-term. The period depends on the value of the product. For most businesses, payments for low-value electronics such as phones, laptops, and desktops average 1-5 months. High-value devices have a long-term cost of 2-3 years.
Payment frequency, monthly payments, penalties, and penalties for late payments also depend on the value of the product and the terms of the supplier. It is important to consider the above factors before purchasing an electronic device using the "Buy Now, Pay Later" offer.