Have you ever found your favourite product but hesitated to buy it because of its price? Then you found an app called Afterpay, which made it easier for you to buy it.
While it is beneficial, you may now need additional features such as payment options and merchant acceptance. For this, you should consider using other apps like Afterpay, which provide multiple features.
Don’t worry if you’re unaware of them. In this blog, learn about the best apps like Afterpay to buy now and pay later.
What is Afterpay?
Afterpay is a popular buy now, pay later (BNPL) app to splits purchases into four interest-free installments over six weeks. The app allows you to purchase any product you need and then pay for it in small installments over time.
It was launched in 2015 and became a leading company in the BNPL industry, following its acquisition by Square Inc. Afterpay entered the FinTech sector to provide shoppers with easy and reliable payment options.
AfterPay Payment Plans
It has two types of payment plans with different policies. You can accept any one of them that suits you the best.
- Pay bi-weekly: If you select Pay in 4, it means you will make four instalments over six weeks. It will split your payment into four interest-free instalments. The first instalment will be due immediately upon checkout.
- Monthly Basis Instalments: If you select the monthly option, which shoppers prefer the most. You will be charged an interest fee in this plan.
You may also like to read: Top 10 Apps like Turo – Turo Alternatives to Checkout
Top 10 Apps Like Afterpay You Should Know
As you need some more flexible features and payment options for your comfort. Here are some best apps like Afterpay that you can consider, offering flexibility tailored to your needs. Most of these apps share similar features, but they also have some unique ones.
List of Best Apps like Afterpay
- Klarna: Best for flexible payment options and shopping convenience.
- Carecredit: Best for healthcare financing and medical expenses.
- GoCardLess: Best for automating recurring payments and direct debits.
- Affirm: Best for installment financing with transparent terms.
- Zip: Best for interest-free digital payments and financing.
- Splitit: Best for splitting purchases into installments without credit checks.
- Sezzle: Best for interest-free installment plans and budget-friendly shopping.
- Perpay: Best for purchasing products and paying over time without credit checks.
- PayPal Credit: Best for online purchases with flexible credit options.
- Uplift: Best for travel financing and vacation payment plans.
1. Klarna
Klarna is one of the best apps like Afterpay for buy now, pay later flexibility. It provides users with more advanced and flexible features. You can enhance your financial flexibility by offering two payment options that allow you to split your bills into four payments or pay instalments over one month.
Klarna Payment Plans
- Pay in 4: Klarna offers a similar feature to Afterpay, allowing you to split your purchase into four instalments and pay them over six weeks with no interest fee charged on it.
- 30-day paying: By choosing this option, you can shop and pay the price within the next 30 days to preview your purchases.
- Immediate Bank Transfer: This option is available in selected European countries. By using it, you can directly pay them from your bank account with a transaction fee of around 2.99% + $0.30.
- Long-term Financing (Pay over time): It offers “Pay over time” alternatives, with interest rates starting at 3.29% + $0.30 and increasing to 5.99% + $0.30 for longer payment terms.
| Pros | Cons |
|---|---|
| Flexible payment options | Fee charges for late payments |
| No hidden charges | Not supported in every store |
| User-friendly experience | Soft credit for specific options |
2. CareCredit
If you need a healthcare BNPL app for your treatments, then CareCredit is a great option. It offers an instalment plan for medical patients to cover their treatment costs. Synchrony Bank provides it, and as a result, it covers dental care, cosmetic care, and other related services.
It is a great relief for patients because its payment plans are more extended than typical BNPL apps.
CareCredit Payment Plans
- Pay Over Time: You can select the long-term financing option if you agree to pay the fixed interest fee in instalments.
- 6 to 24-month payment Period: You can also select a 6 to 24-month plan, which will give you an edge here. If you pay your instalments on time, you can enjoy every purchase with 0% interest.
| Pros | Cons |
|---|---|
| Health care treatments | High APR for freshers |
| 0% interest on brief plans | Only for medical |
| Make treatments affordable | Costs paper statements monthly |
3. GoCardLess
GoCardless offers BNPL through direct debit. It is not a standard payment and instalment system. Businesses have an edge because they can set up customised payment structures according to the purchase value.
GoCardless has multiple integrations with different platforms, including QuickBooks and Sage. These integrations make it reliable and also provide it with various features, including automated invoicing and financial tracking.
GoCardless Payment Plans
- One-time payments: If the purchase amount is not splitable, then you must make a one-time payment.
- Custom instalment planning: You can create your custom instalment plans according to your purchase value.
| Pros | Cons |
|---|---|
| No monthly instalments | Entirely dependent on the merchant setup |
| Less transaction fee | Non-traditional services |
| Seamless integrations with other platforms | International transactions can have high fees |
4. Affirm
If you’re interested in monthly instalments, Affirm is also a considerable Afterpay alternative. Affirm provides buy now, pay later services without requiring a down payment. It offers users the option to select a short-term plan with no interest, or they can opt for monthly instalments.
The main difference between Afterpay and Affirm is that Affirm offers long-term plans ranging from three months to sixty months.
Affirm Payment plans
- Monthly Instalments: You can select the monthly instalment plan if you want to borrow between $50 and $5,000+. You can repay it for 3 to 60 months, depending on your qualification criteria.
- Pay in 4: If you prefer interest-free payment plans, you can select Pay in 4, which splits your payment into four equal instalments.
| Pros | Cons |
|---|---|
| No hidden charges | High APR for more extended financing |
| Extended Financing | Missing payments affect the credit score |
| Instant eligibility check | Eligibility differs by user and retailer. |
5. Zip
Zip was formerly known as Zip Co Limited. It serves customers worldwide across multiple domains, including retail, industry, and healthcare. This platform offers similar features to Pay in 4, but also features increased borrowing capacity through retail financing.
Zip Payment Plans
- Pay in four: You can split your payment into four instalments. And the first one, you have to pay immediately, just like Afterpay.
- Massive loan amounts: You can take on a loan of up to $ 8,000 for larger purchases.
| Pros | Cons |
|---|---|
| Global workspace | A fee is applied if the payment is late |
| No interest | Not applicable everywhere |
| Business friendly | If the balance is over $35,0, then a monthly fee is applied |
6. Splitit
Splitit is another popular app, similar to Afterpay, that allows you to buy now and pay later. By using Splitit credit, you can enjoy monthly instalments with no interest charges. Primarily, BNPL apps require additional credit lines, but Splitit does not.
You can use your available credit card balance without having a new one. Its payment processing system automatically deducts money from the user’s existing credit card balance.
Splitit Payment PLans
- Monthly Instalments: When using Splitit’s monthly instalment plans, you won’t incur any interest charges.
- Credit lines: They have different features because you don’t have to use a new credit line to access them.
| Pros | Cons |
|---|---|
| No additional credit lines | Limited acceptance |
| Interest-free payments | Credit ratio affection |
| No extra debt | Requires a specific credit card limit |
7. Sezzle
Similar to Afterpay, Sezzle splits payments into installments with no interest. You can use Sezzle to divide your payments over six weeks into four instalments, avoiding interest charges.
Customers who utilize Sezzle benefit from payment plan options ranging from weekly instalments to monthly terms that span longer periods.
Sezzle Payment PLans
- Pay in 2: You can pay in two equal instalments, bi-weekly.
- Pay in 4: You pay in 4 equal payments, six weeks apart.
- Monthly instalments: For larger purchases, terms can extend upto 3-48 months.
| Pros | Cons |
|---|---|
| No Interest | Missed payments result in a late fee |
| Numerous Payment options | Monthly minimum fee for merchants with minimal transaction volume. |
| Can build credit | Requires trader acceptance |
8. Perpay
Apart from Afterpay, Perpay is an online marketplace with a payment system linked to your paycheck. Using Afterpay, you can split your payment into four instalments. However, with Perpay, you can create a credit with the company.
When you choose Perpay as your payment method, the total cost is divided into manageable payments that are automatically deducted directly from your paycheck.
Perpay Payment Plans
- Direct Deposit: This option allows you to receive direct deposits from your paycheck when you select it as your payment method.
- Adjustments: You can adjust the amount of your direct deposit to make faster payments.
| Pros | Cons |
| Direct Deposit Payments | Potential for Overspending |
| Customer Service | Fees and Interest (for the Credit Card) |
| No Credit Check (Initially) | Limited Availability |
9. Paypal Credit
PayPal Credit is a line of credit linked to your PayPal account. It helps you buy anything and allows you to pay over time. It’s a credit card with no physical appearance, basically a digital one.
You can utilise it anywhere PayPal is accepted and used. It’s a revolving credit, which means that you can reuse it according to your credit limit.
Paypal Credit Payment Plans
- No interest: There is no interest charge on PayPal Credit if your payment is made within 6 months of the purchase, provided the purchase amount is $149 or more.
- Pay in 4: You can split your purchase into four instalments over six weeks.
- Pay Monthly: You can also opt for flexible monthly payment plans, e.g., 3 months, 6 months, 12 months, or 24 months.
| Pros | Cons |
|---|---|
| Convenience | High Interest Rates |
| Flexibility | Impact on Credit Score |
| No Annual Fee | Fees for Late Payments |
10. Uplift
Uplift stands out among apps like Afterpay for Amazon to offer buy now, pay later options. It has a partnership with Amazon and other major retailers. It is typically used for fixed monthly instalment plans.
Uplift is commonly used for travel expenses, such as flights and hotels, but it can also be used for retail purchases. It does not charge any late fee, whereas it offers simple interest on its loans.
Uplift Payment Plans
- Fixed Monthly Payments: By using uplift, you can pay for your purchase in monthly instalments. You can purchase everything you need in monthly instalments ranging from 3 to 18 months, including flight tickets.
| Pros | Cons |
|---|---|
| Fixed Monthly Payments | Potential for Late Fees |
| Accessibility | Potential for Higher APR |
| Partner Network | Not Always Fee-Free |
Sum Up
There are many other apps like Afterpay that provide flexible payment options to suit your needs. Apps like Klarna and CareCredit offer unique features, such as interest-free instalments and healthcare financing, respectively.
Whether you want to manage your budget more effectively or access medical services, these apps can make purchasing easier and more manageable. By exploring these options, you can find which suits you the best for your lifestyle and financial situation. Ensures that you can enjoy your favourite products without the stress of costs.
