PAYLATER App Review Article Contest - Jason Cheah

If your eyes water at having to pay RM4,899 upfront for a brand-new iPhone 13 Pro, you’re not alone!

For most urban rakyat, the cost of buying a brand-new iPhone can often be a tough pill to swallow, given the phone’s steep cost.

While some retailers and banks offer installment plans, unsuspecting buyers who gloss over the fine print – that terms and conditions page full of legal jargon that seems to go on forever – may still be surprised by hidden costs and fees involved charged by banks and some credit cards.

Curious to learn if there’s an easier way to ease my financial burden – while still enabling my dream of getting an iPhone 13 Pro – I set out to explore a new app in town that promises to simplify my shopping experience.

Enter PAYLATER. It’s the new kid on the “buy now pay later” (BNPL) scene that aims to make shopping as easy as paying for items via 4 simple installments.

The best part of using PAYLATER: all 4 installment payments are ZERO-FEE, which means you’re paying the iPhone’s selling price, and nothing more. No hidden fees. No added taxes. No extra charges.

It took me just less than 30 minutes to download the PAYLATER app, verify myself and start shopping; it’s a process that couldn’t be simpler:

• Step #1: Downloaded the app on my phone, then created an account.

• Step #2: Continued the validation process by submitting clear photos of my NRIC

• Step #3: Account approved; start shopping! 

Within seconds of opening the app, I immediately spotted a great deal: an extra RM50 discount was available at Senheng and SenQ stores. Kaching!

A quick tap on the app’s search feature brought me to Senheng’s offer page, where I easily spotted my dream iPhone 13 Pro and it’s RM4,899 price tag: PAYLATER auto-calculated the phone at RM1,224.75 per month across 4 ZERO-FEE installment payments.

At this stage, I had 2 choices to make: I could either add that sweet iPhone to my cart and complete the purchase by entering my credit card number, or I could head to a physical Senheng store near me to complete the purchase over the counter.

I loved the fact that I could have options for both online and in-store payment. While completing the purchase right there on the app is tempting, and likely the preferred route most would take, I could see instances where you’d prefer to make in-store payments: for example, you want to chat with a store assistant to add on extras like extended warranties or discuss delivery dates. Glad that PAYLATER offers the option to use its app to pay in-store.

I also appreciate the fact you can use PAYLATER at all its participating merchants with no preset shopping limit. Want to buy more stuff from Senheng besides just an iPhone? Go right ahead (as long as you don’t exceed the app’s shopping limit, the shopping limit can be extended based on a quick assessment anytime).

Besides this, PAYLATER is able to auto-calculate your total bill, allowing for up to 24 monthly installments for larger bills.

The app will also remind you to pay every month, via SMS and email. If you miss a payment, PAYLATER charges a small RM10 Late Penalty Charge for every 7 days of non-payment .

So, what was my maiden experience like with PAYLATER? Overall, early impressions are great. I would certainly use it again for large-scale purchases. Here’s a summary:

Pros:

1. Well-designed app with clean, clunky-free interface.

2. No hidden costs – you pay for what you get, broken down into installments period.

3. Lots of juicy promos available at the time of writing.

4. PAYLATER website clearly explains it’s business model.

Cons:

1. A few pages on the app led to nowhere. For example, at the time of writing this review, clicking on the FAQ link didn’t launch the FAQ page – likely because the app is still new. However, the FAQ was easy to find on the PAYLATER website.

2. Would appreciate the option of enabling Dark Mode/Dark theme on the app. Give PayLater a spin and check it out for yourself.

Find more information:

PAYLATER official website:  https://www.paylater.com.my/ 

Register as a PAYLATER user: https://bit.ly/3sg3qm8