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Best Buy Now, Pay Later Services

‘Buy Now, Pay Later’ services are the new financial programs that are quickly taking the place of credit cards for many consumers. They are essentially a lay-by service that allows you to make purchases online or in-store and receive the product without paying the full price upfront. Instead, you can pay in regularly scheduled instalments over a certain amount of time. They can take the stress out of busy spending periods, like Christmas, and in some cases can even be used to pay bills.

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Unlike credit or debit cards, signing up is a quick and easy process that you can do online, and often doesn’t require many conditions other than being over the age of 18. Each company offers slightly different variations of the same concept, varying in account credit limits, flexibility of payment schedules, service fees and late fees. It’s important to know all the terms and conditions that come with each service so you don’t get hit with any unexpected fees.

‘Buy Now Pay Later’ services can be useful to help manage your finances and spread out the weight of purchases you would normally make. If you manage your finances well, they can be a good interest-free alternative to credit cards and help you avoid credit card debt. However, it’s also important to consider the risks of these services. People are more likely to buy more than they usually would and overspend because they have the option of breaking up the payment. It can also have an impact on your financial future, with excessive purchases and late payments affecting credit scores and the ability to secure loans in the future.

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10 listings

Afterpay
  • Award Winner 2020

Afterpay

4.3 from 1,385 reviews

Latest review: I was a great customer using Afterpay often, I was hit by a car in 2016, I was terribly injured with 19 badly broken bones, broken spine, neck, pelvis, 2 collapsed lungs, flail chest and couldn’t w

  • Free to use - Zero Interest and No Establishment Fees

  • Seamless integration within stores with a large number of merchants offering AfterPay

  • Automatic payment plan of 4 equal instalments each fortnight

  • Credit check not required; doesn't affect your credit score

  • $10 Late Fee for missing an automatic payment

  • $7 Fee on top of $10 Late Fee if you fail to repay the missed instalment within 7 days of the due date

  • May affect your ability to secure a loan as lenders consider Afterpay a line of credit

  • Transparency
    4.4 (428)
  • Customer Service
    4.4 (335)
  • Rates and Fees
    4.5 (318)
  • Application Process
    4.6 (325)
Zip Pay

Zip Pay

4.0 from 1,313 reviews

Latest review: Tried to change some information I accidentally put in opposed of the one I was meant to select and was unable to alter and then was denied to amend which resulted in a rejection of purchase so now

  • Interest-free repayments and no establishment fees for ZipPay (maximum $1,000 account limit)

  • 3 month interest-free period for ZipMoney (minimum $1,000 account limit)

  • Flexible payment plans - set up weekly, fortnightly or monthly repayments to suit your schedule

  • $6 Monthly Account Fee if you have a balance

  • $5 ZipPay / $15 ZipMoney Late Fee if you've made no repayments within 21 days of the due date

  • 1.5% payment processing fee if you use Zip to pay bills

  • Minimum $40 monthly repayment required

  • Conducts credit checks during applicatiopn; will affect your credit score if you default on payments

  • Transparency
    2.2 (119)
  • Customer Service
    2.1 (103)
  • Rates and Fees
    2.6 (100)
  • Application Process
    2.6 (105)
Openpay

Openpay

3.6 from 451 reviews

Latest review: Just started my payments both payments were taken out on time then they send me a late fee reminder of 9.50 a day. Absolute waste of money, don't bother at

  • Openpay Plans are interest-free

  • Flexible payment plans - set up payments to suit your schedule

  • Establishment Fee, Plan Management Fee and Redraw Fee may apply to some plans

  • Default Fee of up to $9.50

  • Referral Fee of $19.50 if you have failed to pay a missed instalment 8 days after your due date

  • May conduct credit checks during application; may affect your credit score if you default on payments

  • Transparency
    3.4 (229)
  • Customer Service
    3.5 (163)
  • Rates and Fees
    3.5 (165)
  • Application Process
    4.0 (167)
Bundll

Bundll

3.6 from 38 reviews

Latest review: I can't be eligible for a account. No app bank or financial institution has ever restricted me. Your company is the first and I wanna know why. My credit isn't even

  • Shop anywhere (online and instore) where MasterCard is accepted and bundle your transactions into one simple repayment to pay on your chosen repay day (you have 14 days to repay a bundll)

  • No interest or account fees

  • Snooze feature allows you delay repayment for a bundll by an additional 14 days

  • Collect free snoozes to add to your snooze pot by referring friends

  • Buying snoozes requires a superbundll account which costs 5% of the total amount you add to your superbundll

  • Each snooze costs $5

  • 24 hour grace period for a missed repayment, then a $10 late fee is applied and your account is suspended

  • Transparency
    3.7 (33)
  • Customer Service
    3.8 (28)
  • Rates and Fees
    4.3 (30)
  • Application Process
    3.8 (31)
Humm

Humm

2.3 from 541 reviews

Latest review: Every time I use Humm it is easy to use the app, but unfortunately a lot of vendors do not know how to use it their end, anyway I can’t complain I think it’s fan

  • No fees and Zero Interest if you choose 5 fortnightly instalments to pay for 'Little Things' up to $2,000

  • Zero Interest & 6 - 60 months time period to repay 'Big Things' up to $30,000

  • $8 Monthly Fee if you choose 10 fortnightly instalments to pay for 'Little Things'

  • $8 Monthly Fee & $35-90 Establishment Fee for 'Big Things'

  • $6 Late Payment Fee

  • Transparency
    2.3 (235)
  • Customer Service
    2.3 (161)
  • Rates and Fees
    2.6 (151)
  • Application Process
    2.9 (152)
Make It Mine

Make It Mine

2.1 from 47 reviews

Latest review: I am writing this review only to help others who are trying to find about this company online. I have been contacted by a Punjabi girl telling extremely convincing about a sim only plan. They are

  • Choose from 3 different payment plan options (Rental, No Interest or Layby)

  • $14.40 Missed Payment Fee

  • Further Fees from $3.50 - $15 apply if a second direct debit attempt is unsuccesful

  • Other fees, such as an Establishment Fee or Delivery Fee may apply

  • Transparency
    1.7 (14)
  • Customer Service
    2.3 (11)
  • Rates and Fees
    1.7 (11)
  • Application Process
    1.8 (11)
LatitudePay

LatitudePay

1.4 from 30 reviews

Latest review: Absolutly the worst company to loan from . The website and app are horrible and they make it imposible to verify . Also you cant change your details you have to email them . Stick to afterpay dont

  • Automatic 10-week instalments, interest free

  • Fast and easy sign up process

  • $10 Late Fee

  • Conducts credit checks during application; may affect your credit score if you default on payments

  • Transparency
    1.5 (26)
  • Customer Service
    1.4 (27)
  • Rates and Fees
    1.7 (23)
  • Application Process
    1.8 (25)
QuickaPay

QuickaPay

5.0 from 2 reviews

Latest review: I had no way of getting paint and cavas: flr assinment for uni New bunnings was .ive told most of mates. I highly reccomend it even to strangers at the cbeckout..lol..thanks for doing what you

  • Transparency
    5.0 (1)
  • Customer Service
    5.0 (1)
  • Rates and Fees
    5.0 (1)
  • Application Process
    5.0 (1)
Laybuy

Laybuy

4.5 from 2 reviews

Latest review: Great interest free company no real issues easy to use app and simple signup, have no issues so far :) cons: no way to move an upcoming pay date if needed would be a welcome

  • Automatic 6-week instalments, interest free

  • No sign up fees or establishment fees

  • $10 Default Fee

  • Further $10 Default Fee if you fail to pay the missed instalment within 7 days of the due date

  • Conducts credit checks during application; may affect your credit score if you default on payments

  • Transparency
    5.0 (2)
  • Customer Service
    4.5 (2)
  • Rates and Fees
    5.0 (2)
  • Application Process
    5.0 (2)
Klarna

Klarna

2.3 from 6 reviews

Latest review: The app is glitchy, the customer support is awful and the ghost card isn't available on every site like they state. Much better alternatives out there, I would not

  • Transparency
    2.3 (6)
  • Customer Service
    2.2 (6)
  • Rates and Fees
    2.2 (6)
  • Application Process
    1.8 (6)