Buy now, pay whenever? Lockdown lift for online shopping loans

By Nikhil Nainan

(Reuters) – Browsing online during lockdown, Jessica Friend spotted a pair of Ray-Ban sunglasses she liked, but the price tag made the 30-year-old Ohio resident think twice.

What persuaded her to click ‘buy’, Friend said, was the short-term credit offered by Afterpay, which split the $260 payment into four interest-free instalments.

Afterpay is among a handful of alternative credit firms which offer small loans, mostly to online shoppers, and make their money by charging merchants a 4%-6% commission.

These buy-now-pay-later (BNPL) firms have benefited from a shift to online shopping during the coronavirus crisis in countries including the United States, where state aid has also boosted retail sales.

“I’m more inclined to use them because they make it easier to afford to get the things I want all at once … and when I want to splurge on something,” Friend said of the loans.

Some investors are

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Best online clothes shops to bookmark as your go-to fashion destinations

Us Brits love to shop from the comfort of our sofas, and now we have even more of an excuse to do so, as we’re all stuck inside during lockdown.

Despite having more time to shop online, whether that’s for a new loungewear set for cosy days working from home, or a new outfit to asbestos testing Adelaide wear on your first night out when this is all over, the plethora of choice can be overwhelming.

We’ve tested hundreds of online clothes shops – considering key factors such as delivery, garment quality, how user-friendly their website is and customer service – to give you the ultimate roundup of our fashion favourites.

Our roundup covers everything from vintage brands to sustainable clothing.

Use our handy quick links to jump to different categories below.

You can trust our independent reviews. We may earn commission from some of the retailers, but we never … Read More