Is Walmart Buy Now Pay Later Available? [Updated 2024]

Walmart is one of the largest retailers with over  10,500 stores in the United States, but does it offer Buy Now Pay Later option?

Online shopping’s convenience and accessibility have made it popular in today’s fast-paced consumer market. Thus, businesses have been adapting their offerings to meet customer demands. One such innovation that has gained significant traction is the “Buy Now Pay Later” (BNPL) concept.

The concept allows shoppers to purchase without immediate payment, opting for installment plans instead. In this article, we dig deep into Walmart’s BNPL offering and explore whether the retail giant has embraced this financial trend, analyzing its availability and implications for customers in 2023.

So without any further ado, let’s get started –

Does Walmart Accept Buy Now Pay Later?

Walmart, Buy Now Pay Later (BNPL) option provides customers with a flexible financing solution when purchasing. With this option, consumers can pay a percentage of the total purchase amount at checkout and repay the rest through a structured payment plan.

Customers can stretch the cost of their purchase over time with these monthly payment options, making it easier to budget. It provides an alternative to immediate full payment and grants customers greater financial flexibility while shopping at Walmart.

Statista says the buy now pay later market is a $52 trillion business. It is projected to grow even further as more Americans face challenges in affording significant purchases. Consequently, Walmart’s decision to enter this market is driven by the opportunity for growth and meeting customer needs.

Walmart Buy Now Pay Later with Affirm

Walmart’s quick and reasonable payment option lets shoppers buy and pay for things over three to 24 months. The payment plan’s terms and conditions, including each item’s APR, are disclosed to customers at the time of purchase. This ensures that customers clearly understand the total interest and monthly installments that will remain fixed throughout the payment period.

Partnering with Affirm, Walmart, buy now pay later program does not charge fees for opening an account, prepayment, or late payments. However, it is essential to note that late payments will be reported to the Experian Credit Bureau, potentially affecting eligibility for future loans with Affirm. Thus, it is in the customers’ best interest to ensure timely payments of all installments.

Customers can select Affirm as a payment method for online purchases during checkout on Walmart.com. After linking to their Affirm account and eligibility check, customers can view the applicable APR for the items they wish to purchase and select the desired payment period before confirming the purchase.

In-store purchases require customers to apply for a loan at affirm.com/walmart and choose a suitable payment plan. Upon reaching Walmart’s point-of-sale (POS) system, customers can scan the provided one-time-use barcode to complete the payment.

Walmart’s buy now pays later option offers different payment periods based on the value of the purchased goods. This is how it works:

• Items ranging from $144 to $800 can be paid off over 12 months
• Purchases above $800 up to $2,000 can extend the payment period to 24 months.

Furthermore, customers may also find promotional items at Walmart that qualify for 0% APR, allowing for interest-free payments over an extended period.

How Does Walmart Buy Now Pay Later Work?

As mentioned earlier, Walmart’s Buy Now Pay Later program is in partnership with Affirm. Customers can purchase and pay in flexible installments over a specified period.

Customers can select Affirm as a payment method during online checkout or apply for a loan at Affirm’s official website for in-store purchases.

The program provides transparency regarding the terms, including the applicable APR, displayed before confirming the payment. Payments can be spread between three and 24 months, depending on the value of the purchased items.

Does Walmart Accept Afterpay?

Walmart doesn’t accept Afterpay as a payment method. However, the retail giant Walmart has embraced other buy now pay later options such as Quadpay, Affirm, PayPal,  Pay in 4, and Klarna. Customers can choose Affirm for 3, 6, or 12-month payments or opt for the other options with shorter repayment periods ranging from 4 to 6 weeks.

Walmart also accepts Care Credit and EBT cards for health and wellness products such as prescription drugs, groceries, vitamins, supplements, body care, and hair care.

Which Walmart Products are Eligible for Affirm?

A wide range of products at Walmart is typically eligible for Affirm financing. This includes the following:

• Musical Instruments
• Home
• Jewelry
• Tools
• Arts & Crafts
• Toys
• Electronics
• Apparel
• Video games
• Baby
• Auto
• Home Improvement
• Sports & Outdoors

Items that may not be eligible for financing with Affirm at Walmart are:

• Pharmacy, Health, and Wellness
• Temporary specialty items
• Tobacco
• Alcohol
• Gasoline
• Groceries and Food
• Personal Care
• 1-Hour Photo
• Weapons, gun accessories. and ammunition
• Pet Supplies
• Money Services
• Baby Consumables
• Wireless services plans

Note: For the latest information on items that may not be eligible for Affirm financing, check Walmart and Affirm’s terms and conditions or contact Walmart’s customer care.

Is the Walmart Buy Now Pay Later Plan for Me?

Whether the Walmart Buy Now Pay Later plan suits you depends on your financial circumstances and preferences. Given below are some factors to consider:

Budget and Financial Situation

Assess your current financial situation. This typically includes your income, expenses, and any existing debts. Evaluate whether adding a Buy Now Pay Later plan aligns with your budget and repayment capabilities.

Purchase Value

Consider the value of the items you intend to buy. Buy Now Pay Later plans are typically more beneficial for larger purchases, allowing you to spread the cost over several months.

Interest and Fees

Understand the terms and conditions associated with the payment plan. This includes the interest rates and any additional fees. Evaluate whether the total cost, including interest charges, is acceptable.

Payment Flexibility

Determine whether the payment schedule aligns with your financial preferences. Buy Now Pay Later plans often offer flexibility in choosing the repayment period, allowing you to select a timeframe that suits your needs.

Credit Impact

Be aware that some Buy Now Pay Later plans require a credit check, and late or defaulting on payments could impact your credit score. Assess the potential consequences of your creditworthiness.

Once you consider the above factor, you must know the eligibility. The eligibility criteria for the Buy Now Pay Later plan may vary depending on the specific payment provider Walmart has partnered with, such as Affirm or other available options.

To determine eligibility for the plan, you must review the terms and conditions provided by Walmart and the payment provider.

However, Given below are some general factors that may influence eligibility:

• You must typically be at least 18 to participate in a Buy Now Pay Later plan.
• You may need to be a resident of the country.
• Some providers may perform a credit check as part of the eligibility process. Your credit history and score can affect your eligibility and the terms offered to you.
• Providers may consider your payment history and any defaults on payment plans or loans.
• Providers may assess your income and financial stability to determine if you can afford the repayment terms.

Conclusion

Walmart’s Buy Now Pay Later option will be available to customers in 2023, providing a flexible financing solution for their purchases. However, it’s important to note that Walmart does not accept Afterpay as a payment option. Instead, customers can explore other buy now pay later options such as Quadpay, Affirm, PayPal Pay in 4, and Klarna, which Walmart has embraced to cater to the growing demand for flexible payment methods. By offering these alternatives, Walmart aims to provide customers with greater financial flexibility and convenience while purchasing.

FAQ

Can I use Walmart Buy Now Pay Later for any purchase?

Buy Now Pay Later can be used for eligible purchases, which may vary based on the specific terms and conditions set by the payment provider.

Are there any additional Walmart Buy Now Pay Later fees associated?

The fees associated with Buy Now Pay Later depend on the payment provider. Reviewing the terms and conditions to understand any potential costs involved is essential.

Can I pay off my Buy Now Pay Later balance early?

The ability to pay off your balance early will depend on the specific terms of the payment plan. It’s advisable to check the terms and conditions or contact customer service for more information.

Does Buy Now Pay Later affect my credit score?

The impact on your credit score will depend on the specific payment provider and their reporting policies. Late payments or defaults could hurt your credit score.

How do I apply for Walmart Buy Now Pay Later?

The Buy Now Pay Later application process will vary depending on the payment provider. You can choose a payment method during checkout for online orders. For in-store purchases, you may need to apply for the loan through the designated process provided by the payment provider.