Walmart BNPL Explained

Walmart offers a buy now, pay later (BNPL) service that allows customers to split purchases into four interest-free payments.

This service is available on Walmart's website and in-store, making it easy to take advantage of.

To use BNPL, customers simply need to select the option at checkout and enter their payment information.

The first payment is due at the time of purchase, and the remaining three payments are due every two weeks.

Customers can choose to pay off the balance at any time without incurring additional fees.

Walmart's Buy Now Pay Later (BNPL) plan is an alternative to traditional layaway programs. It allows customers to pick up items and pay the balance in installments, rather than having to clear the balance before taking possession of the item.

The plan was introduced after Walmart scrapped its interest-free layaway program, which customers had to clear before picking up their items. This new plan offers more flexibility and options for customers.

Customers can choose between four BNPL plans when shopping at Walmart, but Affirm is the primary partner and the one available at their retail channels. Always check out the APR, repayment period, and cost of taking up the loan with all the available options before signing up for one.

Interest rates for the BNPL plan range between 10% and 30% depending on various factors. This is a significant increase from the interest-free layaway program.

Customers can buy some promotional items at Walmart with 0% APR, where they pay no interest and simply spread the item's payment over an extended period.

Here are the eligible categories for the BNPL plan:

It's worth noting that 72.6% of customers added items to their cart or bought something that costs more due to their encounter with a BNPL option. This shows how the BNPL plan empowers customers to make larger purchases at retailers like Walmart.

To use Buy Now, Pay Later (BNPL) at Walmart, you can start by downloading the Sezzle App. This app allows you to shop seamlessly at Walmart using Sezzle's bill now pay later platform.

Sezzle offers exclusive deals and flexible payment plans that allow you to shop now and pay in 4 installments with no interest. This makes it one of the best installment payment options available.

To split your Walmart purchase into 4 interest-free payments over 6 weeks, follow these steps: download the Sezzle App, search for and click Walmart, click Pay with Sezzle, and your purchase will be split into 4 payments.

Sezzle's user-friendly approach ensures no surprises with Walmart payment methods, making it a great option for those who want to be financially empowered.

Walmart's Buy Now, Pay Later (BNPL) option offers several benefits, including the ability to finance purchases without interest charges if paid in full within the promotional period.

You can choose from several payment plans, including 4, 6, or 12 installments, depending on the item's price and your payment schedule.

Walmart's BNPL option has no fees or interest charges if you pay in full within the promotional period, making it a great option for those who need to make a large purchase but don't have the cash upfront.

One of the most significant benefits of Walmart's BNPL option is the flexibility it offers, allowing you to make payments over time without incurring interest charges or fees.

You can use Walmart's BNPL option on purchases as low as $34.99, making it a great option for those who want to spread out the cost of smaller items.

If you're unable to pay in full within the promotional period, you'll be charged a finance charge on the remaining balance, which is currently 24.99% APR.

Walmart's BNPL option is available on most items in the store, but some exceptions may apply, such as gift cards or services.

Walmart's BNPL plan isn't perfect, but it has its good and bad points when compared to other types of loans.

Paying for an item upfront is always the best option, but it's not always easy, especially for purchases that require large sums.

Walmart's BNPL plan can affect your credit score, but only if you're late with payments - timely payments won't be reported.

Make sure you have the money to pay the balance in time, as late payments will be reported to the credit providers.

If your income is sporadic and you can't predict when you'll have the money to pay an installment, consider other options.

Walmart's BNPL solution is ideal for anyone with a regular income stream, as they can be sure of paying back the balance within the stipulated time.

Walmart shoppers can now opt for installment loans at some of its 4,615 U.S. stores through the fintech One.

One's buy now, pay later (BNPL) services are available for higher-priced items, with interest rates ranging from 9.99% to 35.99% annual percentage rate.

Walmart has partnered with BNPL provider Affirm since 2019, offering customers the opportunity to spread out payments for purchases.

Affirm's services were integrated into Walmart's self-checkout kiosks at some 4,500 U.S. locations last December.

Here's a comparison of the interest rates offered by One and Affirm:

One's BNPL service may reduce Walmart's reliance on third parties to offer financial services to its customers, as the retailer may look to lean on One to handle its credit-card program.

Walmart BNPL offers a range of benefits, but understanding the merchant information is key to making the most of it.

Walmart is the primary merchant for BNPL services, allowing customers to finance purchases across various store categories.

The BNPL service is available at over 4,000 Walmart locations in the US, making it easily accessible to customers.

Walmart's BNPL service allows customers to split purchases into 4 interest-free payments, with the first payment due at the time of purchase and subsequent payments due every two weeks.

Walmart's BNPL service has no fees or interest charges if payments are made on time, making it a convenient and affordable option for customers.

Buy now, pay later services, like Walmart's BNPL plan, can be a slippery slope if you're not careful. If you don't have the money to cover payments when due, you could be handed over to a debt collector.

Customers need to ensure they have the money to cover payments when due, or they could be digging themselves into a deeper financial hole. It's similar to using a credit card where you make the purchase now, but when it comes time to pay that debt, you don't have the cash on hand.

Not all payments are interest-free. Walmart notes on its website that Affirm may offer special financing as low as 0% APR, but only on select Walmart.com products.

The APR for Walmart's BNPL plan can range from 9.99% to 35.99%, depending on your creditworthiness. This means you could be paying a significant amount of interest on your purchase if you don't pay it off quickly.

You have to be careful to check out the APR, repayment period, and cost of taking up the loan with all the available options before signing up for one.