The holiday season is approaching and for a lot of customers the layaway option at stores lets parents make Christmas and the holiday season affordable.
One of the biggest retail stores in the country, Walmart, is getting rid of that option.
According to WRAL a customer service representative confirmed that no US Walmart stores will be offering layaway. Also, the layaway section has been removed from Walmart’s website.
Over the years, Walmart offered a layaway program from August to December that allowed customers to put items on hold with a small deposit until they could pay it off completely by making regular payments over time.
But the retailer is offering a “layaway alternative.”
Walmart will now offer customers a monthly “buy now, pay later” finance payment option called Affirm.
Walmart is calling Affirm an “alternative to layaway,” which allows the customer to “buy now, pay later”
With Affirm there is a finance charge but Affirm does not charge late fees, prepayment fees, annual fees, or service fees to open or close your Affirm account.
More details can be found here