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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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11 listings

Afterpay
  • Award Winner 2020

Afterpay

4.1 from 1,562 reviews

Latest review: Have used it alot, however when buying online its a risk if item doesn't arrive. PayPal guarantee refund and will work with you to talk to the seller and In many cases if you prove your right to

  • 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
    3.9 (582)
  • Customer Service
    3.8 (495)
  • Rates and Fees
    4.1 (469)
  • Application Process
    4.2 (479)
Humm

Humm

4.0 from 1,996 reviews

Latest review: Humm is the best payment plan. It is fantastic for paying for items in smaller chunks and equally good to break up a bill into smaller portions. Easy to apply and easy to manage. I would highly

  • 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
    4.2 (1,529)
  • Customer Service
    4.3 (1,463)
  • Rates and Fees
    4.4 (1,459)
  • Application Process
    4.5 (1,469)
Zip Pay

Zip Pay

3.9 from 1,527 reviews

Latest review: I just got my car serviced, needed heaps done and I didn't have enough money to pay for it. Zip pay was fast to apply for and I got my car all within 20 minutes awsome thanks

  • 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
    3.2 (311)
  • Customer Service
    3.2 (294)
  • Rates and Fees
    3.5 (285)
  • Application Process
    3.6 (294)
Openpay

Openpay

3.4 from 509 reviews

Latest review: My account is put on hold due to financial hardship and I sent through all the documents they requested. Anyway money has come out of my account. I called them today and the person I spoke to was

  • 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

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

  • Transparency
    3.2 (277)
  • Customer Service
    3.1 (211)
  • Rates and Fees
    3.2 (214)
  • Application Process
    3.7 (212)
Bundll

Bundll

3.0 from 70 reviews

Latest review: Having bundll is awesome for me I use it to budget better. Direct debits come out and I pay when my wage comes in. I don’t have to worry any more that my husband might have used the bank account and

  • 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
    3.0 (60)
  • Customer Service
    2.9 (56)
  • Rates and Fees
    3.9 (54)
  • Application Process
    3.4 (57)
QuickaPay

QuickaPay

5.0 from 10 reviews

Latest review: My health & wellness coach offered to let me pay in instalments using QuickaPay. Signing up was super simple and easy to do and the 10 weeks repayments made it much more manageable to pay. My only

  • Transparency
    5.0 (9)
  • Customer Service
    5.0 (9)
  • Rates and Fees
    5.0 (9)
  • Application Process
    5.0 (9)
LatitudePay

LatitudePay

2.2 from 94 reviews

Latest review: Easy to use no interest on payments great customer service as well ty! I have not had any issues with this company highly recommended to those who need something now!

  • 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
    2.4 (86)
  • Customer Service
    2.3 (84)
  • Rates and Fees
    2.6 (79)
  • Application Process
    2.7 (84)
Make It Mine

Make It Mine

2.0 from 64 reviews

Latest review: Made the mistake ok looking into a product with this company about a year ago, however I did not proceed. Unfortunately they have my phone number and no matter how many times I text STOP to then

  • 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
    1.6 (26)
  • Customer Service
    1.9 (25)
  • Rates and Fees
    1.8 (22)
  • Application Process
    2.0 (22)
Klarna

Klarna

1.5 from 26 reviews

Latest review: Absolute bull this app is setup to take your 1st payment and then you cannot purchase your item straight up scam and is being reported to the accc do not use this app

  • Transparency
    1.8 (24)
  • Customer Service
    1.8 (24)
  • Rates and Fees
    2.3 (23)
  • Application Process
    2.1 (23)
Laybuy

Laybuy

3.2 from 5 reviews

Latest review: Easy to use and intuitive. Bought some new t-shirts in JD sports. Splits nicely into six payments. Brand looking on point. Purple Heart style looks good to attract younger target

  • 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
    4.0 (4)
  • Customer Service
    3.2 (5)
  • Rates and Fees
    4.0 (4)
  • Application Process
    3.8 (4)
Pay It Later

Pay It Later

1.0 from 1 review

Latest review: The shop didn't deliver. I kept Payitlater fully informed. Never replied to multiple emails or calls to fix. Paid the full amount but they kept charging fees. Terrible customer