Walmart Announces Buy Now Pay Later Program
Walmart Announces Buy Now Pay Later Shopping for the Holidays
Walmart recently introduced to its 6000 employees a new buy now pay later layaway program. What is different from past Walmart programs is that this time there will not be a five dollar ($5) service fee. That is right no fee!!
The program will run from September 13th through December 13th. The companies chief marketing officer highlighted the fact that “times are tough and it’s not easy from any Americans – they are watching every penny”. He went on to say that “customers need a low price leader especially during the holiday season”.
Look Mom No Fees
This year the program has no opening fees or gift card reimbursements – it is simply free. They have also increased the number of items and categories eligible for the program. Walmart is offering over thirty five thousand (35,000) items for the program. This is an increase of one thousand (1000) items from last year and five thousand items (5000) from 2011.
- Toys (including infant toys)
- Select Sporting Good
- Small Appliances
- Automotive Electronics (such as stereos and speakers)
Walmart customers will be able to use the program to layaway electronics such as:
- Samsung’s Galaxy and Galaxy 3 (prepaid only – no wireless phones that require a contract)
- Apple iPads; mini; and iPhon
- Game consoles such as Playstation 4 and Xbox One
- Smart and Big Screen TV’s
In addition to some of the latest electronics, customers will also be able to choose from a wide assortment of toys such as:
- Big Hugs Elmo
- Ride-on vehicles
- Barbie Dream House
How the Program Work’s
In order to use the layaway plan, customers will need to open an account either in one of their stores or online. Once your account is open, you can make payments at any store between September 13th and December 13th, 2013. Additionally, they will send you reminders and updates via your email.
The individual items that you purchase must have a value of $15 or more and your total purchases must exceed $50 in order to be eligible for the program. The item or items must be fully paid and picked up at the same store where the item layaway was initiated.
If you decide to cancel your order, you will get back any down payment (10% of order total or $10 whichever is greater) and payments made; however, there will be a $10 fee for cancellations (cancellation fee not applied in Ohio, Rhode Island, Maryland & the District of Columbia). This fee is new to the program as they did not charge customers for cancelling their orders in 2012. If you do complete the payments and pick up your items, Walmart’s return policy applies to this program as well.
Additionally, customers who chose to use the buy now pay later layaway program can also use the Walmart Ad Match Guarantee. Meaning they will match the price of any competitors advertised price of an identical item.