8 Best Buy Now, Pay Later Apps Like Klarna
Introduction
Imagine the delight of purchasing your favorite items without immediate payment. This is made possible through a fantastic option known as Buy Now Pay Later (BNPL) programs. BNPL offers fixed installment loans with no interest or extra fees, ensuring transparent payment amounts. Transactions can be made using a BNPL app or your credit card.
With BNPL apps, you can shop at participating retailers and select a buy now, pay later option by paying just 25% of the total amount upfront. The remaining balance can be settled in interest-free installments.
Exciting, isn’t it?
Various platforms offer point-of-sale installment loans, with Klarna being a notable example. Klarna is a lifestyle app that facilitates shopping with the option to split costs into four interest-free payments. It features:
- Order tracking and real-time updates
- Exclusive deals and discounts
- Saved item lists for future purchase consideration
- Personalized recommendations
If you’re seeking BNPL apps similar to Klarna, here’s a curated list for you…
8 Apps Like Klarna For Shopaholics
Payment Apps Comparison
AppKey FeaturesDownloadsRatingsAffirmShop from partnered retailers
Pre-qualify for financing
Manage your payments5M+4.8/5SezzleFour interest-free payments
Shop at various retailers
Fast approval with no hard credit check1M+4.6/5LaybuyInterest-free installments
Wide retailer selection
Simple and secure
Build credit1M+4.5/5ZipFlexible payment options
Fast and convenient
Potential to build credit1M+4.8/5SplititMultiple installments without any fees or interest
Use any credit or debit card
Flexible payment plans
Used in 200 countries via Mastercard or Visa10K+3.3/5ViaBillSplit purchases into installments
Shop anywhere (online or in-store)
Manage your finances50K+3.4/5PayPal CreditTrack spending and payments
Apply for a PayPal Credit
Manage your account
Shop using PayPal credit100M+4.3/5Go CardlessOne-off payments
International payments
Reduced fees85+4.7/5
1) Affirm
Affirm is one of the most popular buy now, pay later apps like Klarna. It provides a simple way to purchase things and split payments with no hidden fees. Repayments can be divided into three, or twelve-month plans without interest, with APR rates ranging from 0% to 30% depending on the loan amount.
Affirm also provides round-up payments, which allow consumers to make additional payments in small sums on top of their installment plan. This tool allows customers to pay off their purchases faster. They also provide a “Shop With Points” tool for users who have earned enough points to redeem for things in their Affirm account. Unlike Klarna, Affirm charges no late fees.
ProsConsSpreads paymentsInterest rates can be highInterest-freeTempts overspendingVariety of loan optionsCredit impact
2) Sezzle
Sezzle is another well-known Best Buy Now, Pay Later Apps Like Klarna that allows you to divide your purchases into installments. You can spread your payment over six weeks in four equal installments, with no interest if you pay on time.
Sezzle provides immediate acceptance decisions without a hard credit check, making it more convenient to use than other credit card options. On-time payments with Sezzle might be reported to credit bureaus, which may help you improve your credit score. Sezzle collaborates with a diverse selection of online and in-store businesses, allowing you to use it for a variety of transactions. The Sezzle app allows you to easily track your orders, and upcoming payments, and modify your account details.
ProsConsInterest-free paymentsLate feesFast and convenientLimited payment scheduleShop at many retailersComplex fee structure
3) Laybuy
Laybuy is another alternative to apps like Klarna that allows you to receive your purchase instantly and pay it back in six payments. One-sixth of the total payment is paid at checkout, with the remainder paid in five weeks. The best aspect of Laybuy is that there is no interest, hidden fees, or payment charges.
You can shop in-store or online at businesses that accept this payment method, and you can effortlessly link your credit or debit card to the app. However, Laybuy only takes cards issued by New Zealand banks, therefore this BNPL may not be available to persons outside of New Zealand, unlike Klarna, which is available worldwide.
ProsConsSimple and secureNo credit card requiredIn-store paymentsPotential for overspendingManage your financesLimited payment terms
4) Zip
Zip (previously Quadpay) is a “buy now, pay later” program that allows you to make purchases in installments. Zip lets you divide your purchases into four interest-free payments spread out over six weeks. Zip works with a large variety of online and in-store businesses, offering you more options for your purchases. They even provide a Zip app virtual card, which may be used to shop online with stores that do not directly take Zip.
You can settle your installments weekly, fortnightly, or monthly, whichever you wish. The Zip app provides a rapid approval process and allows you to pay with your phone at participating merchants. On-time Zip payments may be recorded to credit agencies, thus helping you improve your credit score.
ProsConsShop at many retailersLate feesFlexible payment optionsPotential for overspendingFast and convenientInterest on late payments
5) Splitit
Splitit allows you to buy and pay for things in numerous installments without incurring any fees or interest. It accepts any credit or debit card and does not need you to apply for a loan, so you do not have to worry about your credit score.
The payment arrangements are flexible, with installments of up to 12 months. You can also make additional payments at any time to help pay off your purchase faster. The nicest thing about Splitit is that it may be used in 200 countries with Mastercard or Visa. Splitit does not impose late fees, but your credit card provider may charge you.
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6) ViaBill
ViaBill is a “buy now, pay later” program that allows you to make purchases in installments. Depending on the plan you choose, you can pay for your purchase in installments. ViaBill’s plans range from interest-free 10-month installments to flexible payments over 24 months. ViaBill provides two methods to shop: online and in-store.
With the ViaBill app, you can easily track your spending, monitor your credit limit, and modify your payment schedule. On-time payments made through ViaBill can be reported to credit bureaus, thereby increasing your credit score.
ProsConsVariety of payment plansInterest rates on extended plansManage your finances easilyPotential feesPotential to build credit
7) PayPal Credit
PayPal is a well-known and popular payment processor that allows clients to make purchases using their PayPal accounts. PayPal offers two flexible payment alternatives in the United States:
The four-installment payment plan requires buyers to pay 25% of their item at the checkout, with the remaining three installments charged every two weeks. This is available for purchases ranging from $30 to $1500. Customers can pay in monthly installments of six, twelve, or twenty-four months. This plan can be used for significant purchases ranging from $199 to $10,000.
In all circumstances, money is automatically debited from the customer’s PayPal or associated bank account. Customers using the buy now, pay later function are protected by PayPal’s Buyer Protection insurance, which covers up to $20,000.
ProsConsWide acceptancePotential for scamsSecurityLimited customer serviceAcceptanceExtra fees
8) Go Cardless
GoCardless does not currently have a mobile app for direct consumer use. Their services attempt to help businesses automate payment collecting through a variety of features. GoCardless enables businesses to set up automatic withdrawals for subscriptions and invoices, easing the payment process. Thallowows customers to make fast, one-time payments.
GoCardless allows businesses to accept payments from over 30 countries. They accept direct bank payments, avoiding the credit card fees associated with conventional payment gateways. This makes it another alternative to apps like Klarna.
ProsConsReduced feesLimited payment methodsRecurring paymentsPotential for failed paymentsFaster access to fundsRequires customer signups
Conclusion
These 8 buy now, pay later apps are great for enjoying a wide shopping experience without having the burden of paying heavy costs at a time. However, it is important to read all the terms and conditions before relying on these applications. They may charge additional fees for not making payments on time. Also, the ease of using BNPL can lead to overspending and impulse purchases.
Such things can be a concern for the majority of people. But apps like Affirm and Sezzle are all about clear costs with no hidden fees. Paypal is another widely used option. Speaking of choosing the right app, it is important to do thorough research, compare all the popular options, and decide on it wisely. Make sure to try out our above recommendations of apps like Klarna and enjoy buying like never before.
Happy Shopping!