Here at Abbfabb Grooming Scissors, we offer our groomers both Clearpay and Klarna as payment options.

 

These payment options are 'Buy now pay later' (BNPL) services and offer you several benefits especially if you are looking to buy a larger number of dog grooming scissors.

 

BNPL services allow you to make a give you more financial flexibility and control over your spending. They can spread the cost of your purchase over time, which can be especially helpful for budgeting and managing high-value purchases. BNPL services can also be attractive to younger groomers who want to avoid high interest rates on credit cards.

 

How Buy Now, Pay Later (BNPL) Work

 

  • Buy now, pay later programs have different terms and conditions. They generally offer short-term loans with fixed payments, no interest, and no additional charges. This means you know your payment amounts up front, and each payment will be the same. You can use a BNPL app to make the purchase, or you may have BNPL options through your credit card.
  • With BNPL, you can make a purchase at a participating retailer and opt for buy now, pay later at checkout. If approved, you make a small down payment, such as 25% of the overall purchase amount. You then pay off the remaining amount in a series of interest-free installments, usually over a few weeks or months.
  • Payments can be deducted automatically from your debit card, bank account, or credit card. You may also be able to pay via check or bank transfer in some cases, although the Consumer Financial Protection Bureau (CFPB) says that most BNPL lenders give consumers no choice other than autopay.1
  • The main difference between using BNPL and a credit card is that the credit card generally charges interest on any balance carried over to the next billing cycle. Although some credit cards offer 0% annual percentage rates (APRs), it may only be for a limited time. With a credit card, you can carry a balance or use your credit line indefinitely.

 

There are however, some disadvantages which you need to be aware of.

BNPL does come with certain downsides. For instance, paying off a BNPL loan generally won’t help you establish and build good credit, either. You also miss out on any perks that credit cards offer, such as cash-back or rewards points.

Also, if you want to return a pair of dog grooming scissors you bought using BNPL, it can get complicated. You should get your money back, but there can be a delay until the merchant informs the BNPL lender of the refund. You may have to keep making payments in the meantime. If you don’t, then the payment might be marked tardy or missing, resulting in added fees and a possible ding to your credit score.