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Flexible payment platforms that allow you to pay later or in instalments

Now you can pay for your big-ticket purchases with ease

Delfina Utomo
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Delfina Utomo
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The 'buy now, pay later' is not exactly a new concept. Credit card companies have been doing it for the longest time – the only thing is that with credit cards, you usually need to pay a one-time processing fee equivalent to a percentage of your transaction, and then there are all these extra charges ranging from late (and even early) payment or if you cancel the card you used to pay.

These days, there are non-bank platforms that allow for more flexibility. All you need is a valid debit or credit card – and to pay your instalments on time. We take a look at the top payment platforms in Singapore and what they offer. 

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Hoolah
Photograph: hoolah

Hoolah

Tenure: 3 months
Late payment: Late payment applies on every monthly payment you miss – you'll be charged $5 for orders under $99, $15 for orders between $100 to $999.99 and $30 for orders over $1,000

Hoolah was one of the earliest paying platforms that allowed for instalment payment in Singapore. The platform is quite simple to use and transparent – the cost of your purchase is divided into three interest-free instalments, exactly a month apart. Debit credit cards are allowed and there are no hidden costs at all. Besides being a useful platform when buying big-ticket items, it also has in-app offers you can browse through and also incentives for new users, who will get a welcome voucher of $10 off min spend $30 for online or in-store purchases.. 

Learn more about hoolah here

PaySlowSlow
Photograph: PaySlowSlow

PaySlowSlow

Tenure: 3 months, 4 instalments
Late payment: If you missed a payment, an admin fee of $15 will be charged one day after the payment is due and your account will be temporarily frozen until the outstanding payment (including the admin fee) has been cleared.

Got a big-ticket item to purchase? PaySlowSlow is the latest buy now pay later platform to hit Asia. It also offers zero interest and a flexible tenure time of four months. Be it your first home or your kid's education, PaySlowSlow will cover all the milestones in your life. New users can get up to $10 credits with a minimum purchase of $50. 

Learn more about PaySlowSlow here

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Pace
Photograph: Pace

Pace

Tenure: 3 months
Late payment: The late payment fees are pretty harsh so pay on time! You will be charged $10 for the first late payment which will be increased by $1 per day after the due date. For orders above $40, late fees will be 25 percent of the original order value or $60 – whichever is less.

You pay what you buy – but in three easy instalments. Pace is also another interest-free payment platform in Singapore but it also offers access to Pace-exclusive promotions and deals to users. The clientele is hip and trendy – and Pace is smart enough to brand itself to appeal to millennials and the younger crowd. Keep tabs on the platform via its social media accounts to keep up with what's cool or upcoming offers. 

Learn more about Pace here

Atome
Photograph: Atome

Atome

Tenure: 3 months
Late payment: If you missed your second payment, Atome will charge a $15 late repayment fee and freeze your account. If you miss the deadline to pay the late fee of $15 and the outstanding balance on the third and final month, you will be charged another $15.

Atome is also another interest-free instalment payment platform that has its presence online and also in-store. Like hoolah and Pace, the tenure is three months but there is an added bonus for first-time users to take $10 off the first online purchase on Atome. 

Learn more about Atome here

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Grab PayLater
Photograph: Grab

Grab PayLater

Tenure: 4 months
Late payment: The admin fee for PayLater instalments is $10 for each missed instalment payment, with a maximum of $30.

We're already familiar with the Grab app when it comes to transport, food, groceries and even Grab Pay. Like Grab Pay, now you have the option to buy now and pay later instead. The tenure is longer than most of the other platforms here – you can split it over four months. However, when you use Grab PayLater, you can't earn GrabRewards points. On top of flexible payment, Grab PayLater also offers plenty of deals you can check out that is updated quite frequently. 

Learn more about Grab PayLater here

Go shopping!

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