Why Do People Prefer Buying with A Payment Installment Plan?

Penulis Starry

Sep 10 2021

People across the globe take advantage of payment installment plans to purchase their favorite brands if they are short of money at the moment. Everything is available at easy payment installment plans, from a phone installment plan to the car camera installation plan. 

The popularity of a fixed installment plan is becoming popular. In comparison to traditional loan methods, today, people and small businesses take these plans to make great purchases. iPhone installment plan Malaysia without credit card is famous all across Malaysia. 

What is a payment installment plan?

With a payment installment plan, the customer should return the payment to the credit card issuing company instead of paying the merchant. The payment installment plans are designed to divide the amount for the purchase made to be paid overtime. Even if the merchant winds up the business, the customer will still make payments to the credit lending company.  

Duration for a payment installment plan:

With the installment plans, a customer pays for the made purchases in fixed, over a set period. Some companies limit their clients to one payment term – for instance, four payments over four weeks with a fixed amount or a set interest rate. Some companies allow the clients to choose the term that is most suitable to them. Did you know that these payment installment plans allow buyers to select among three various repayment tenures that are specially designed to offer options to people coming from every kind of income level? 

Common examples of an installment plan:

Some common examples of payment installment plans are student loans, a home equity loan, or a phone installment plan. When a customer opens an installment account, he borrows some money from the issuer. The client then gives back money with allocated installment plans. 

How does a payment installment plan work?

When a person takes a loan on installment, he receives the requested amount or the item they have purchased. With a certain amount of decided interest rates, the person then gives back the amount of regularly scheduled payments that are called installments. A person has to pay the same amount on each installment for the decided number of weeks, months, or years. 

Today, people prefer to buy online rather than going to the shopping malls and wasting time plus money. Savvy customers have the option of paying online in two ways. Buying expensive items through payment installment plans is a great option for those with a limited budget. 

The payment installment plans were introduced in parallel to the credit cards, and the basic purpose is to provide convenience to the customers to purchase things today and pay later. Most installment companies only charge a fixed fee instead of charging interest, while some charge an interest rate on the overall amount while receiving back the money. You can choose according to your payment schedule and spending habits. 

Did you know that many installment payment businesses are specially structured to provide the installments to even customers who have a bad credit score? These businesses normally do not conduct a credit check to approve a payment installment plan.

There are plenty of platforms for online buyers that provide the payment model of buy now and pay later through easy payment installment plans. Each of these platforms offers its kind of options for repayment, interest rates, fees, and payment schedule.

Among them, ATOME is one of the widely acknowledged platforms by savvy customers. People say it is the most reliable platform for buying their favorite brands today and paying back with easy installment plans. 

What is ATOME, and how does it work? 

ATOME is a digital platform that comes with easy payment installment plans. It gives you the opportunity of buying your favorite brand today and pay later. You can repay the total amount with an installment plan that splits your purchases across 3 payments. So even if a customer is short on budget, they can shop with ATOME.  

It provides more flexible payment options for a variety of products and services. The app allows shoppers to split their purchases over three interest-free monthly payments by scanning a partner retailer’s in-store QR code or upon website checkout. By splitting their payments, Atome users will be able to better manage their budget while making higher quality products more affordable.

Scan QR code to download the Atome app
Scan QR to download the Atome app

Our verdict

For savvy customers who have a limited budget, the good news is that there are plenty of digital platforms that let them purchase their desired items at a set payment installment plan. Atome is one of them that comes with no interests and other hidden charges.

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