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Over the past six months, during the COVID-19 pandemic, consumerism has evolved with the times.

When hard lockdowns were implemented across the globe, people turned to online shopping to stock up on what they needed.

Even as lockdowns ease, many have chosen to continue shopping online to mitigate the risks associated with visiting a brick and mortar store.

Online shopping comes with a number of perks, not least of which is that you can do it from the comfort of your couch, and don’t have to stand in a payment queue once you’ve decided on what you want.

Depending on which site you’re using, you’ll also find a number of payment options, allowing you to choose the one that suits your needs.

In the UK, reports The Telegraph, ‘buy now pay later’ (BNPL) methods of payment have become increasingly popular over the last while.

Many have used so-called “buy now pay later” firms, which offer shoppers the chance to purchase items even if they do not have enough money in the bank to buy them outright.

Shoppers pay back the cost over weeks or months, however fees and charges can be added if shoppers fail to meet the ongoing payments.

One of the most popular BNPL companies in Britain is Clearpay, which notes that the average customer made eight purchases using the system within its first 12 months of operation.

The numbers of people using BNPL systems have been on the rise since the UK lockdown went into effect.

Clearpay has now passed one million customers after one year of trading in Britain. In that time, shoppers have become more dependent on “buy now pay later” than those in comparable countries.

You can see the appeal. When you buy something on credit, you often end up paying far more than the original price way down the line. The ironic thing is that by the time you’ve paid that hefty sum, the item has severely decreased in value due to use and time, which means that you’re losing even more money.

In South Africa, e-commerce sales are off the charts. A source with insider information told MyBroadband that Takealot is now generating close to R1 billion in sales per month.  Online direct payment platforms like PayFast and PayGate have also reported significant spikes in transactions.

The upside to this is a boost to the economy. The downside is that many South Africans may be using credit cards to spend beyond their means, and this is where BNPL services are useful.

South Africa’s very own BNPL system, PayJustNow, offers a responsible and rewarding payment alternative to lay-by and credit. To put it simply, it’s a ‘buy now, pay later’ solution to shopping online that doesn’t end up coming back to bite you in the behind.

If you want to take advantage of a middle-of-the-month sale, or you need something urgently, you pay a third of what you owe, and the rest in two equal, interest-free instalments in the two months that follow.

To make sure you don’t forget, they’ll send you a monthly reminder prior to your payment date.

In order to ensure responsible spending, PayJustNow caps the amount that you can spend when you first sign up, which means that you won’t be tempted to buy something completely out of your price range.

As you pay your instalments on time, they’ll increase your spending limit.

PayJustNow has partnered with a vast range of merchants across the retail sector, and that list is growing every day.

If you’re keen to give it a bash yourself, visit PayJustNow’s website to set up an account (it took me less than two minutes), or to learn more about the service, and get shopping.

Then sit back and wait for your delivery.

Simple.

[source:telegraph&mybroadband]