Customers of online stores could spread the amount of their purchases in installments mainly thanks to banks. At this point the trend is changing. Loan companies are introducing the same solution, offering customers to split purchases into convenient installments. One of them is Monedo Now, a company that has been enabling installment purchases for Allegro customers for some time.
Shopping in installments – popular with Poles
They win with other forms of financing, such as cash loans and credit cards. Cars and furniture are among the most popular goods purchased in installments. as well as electronic equipment of both home appliances and electronics.
In stationary stores, you can more often find a 0% installment offer. Thanks to this, you can pay back only the value of the purchased goods for several months, not commissions or interest. Installment purchases are now available not only in stationary stores, but also online. For some time, Allegro has been helping clients make purchases in installments.
Installment purchases – how does it really look like?
When we buy goods in installments, we actually take out a standard consumer loan or credit . The difference is that the money goes straight to the seller, and we pay back our liability to the institution that lent us the money . No wonder that loan companies decided to follow in the footsteps of banks and establish cooperation with online stores. On these terms, Monedo Now has established cooperation with Allegro’s most popular and largest auction site in Poland .
So far, installment purchases in this store have been financed by Alion Bank, uBank and PayEZ. The installments could be purchased from $ 300 to $ 20,000 for a maximum period of 36 months. What distinguishes a loan company is the way of applying for a loan. In this case, everything is done online using a special application that tests creditworthiness. Thanks to this, the decision to grant a loan is received instantly.
Is shopping in installments the future of loan companies?
Monedo Now paved the way in installment purchases for other loan companies. It is only a matter of time when online stores will be serviced by financial institutions that offer online loans. This is a very good phenomenon, because the greater the competition on the market, the better installment purchase offers customers can count on .