Payment “in three installments” or deferred: why you have to be very careful

  • Post category:Economy News
  • Reading time:4 mins read

“Split” or “deferred” payments free of charge, to be settled quickly, are more and more often offered by retailers, especially for online purchases. A practice that escapes the law on consumer credit. So beware of deviations.

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Reading time: 5 mins

Loffer is attractive. A bike at 600 euros, with the possibility of paying in three instalments. All without interest and… at no cost! This is what is called a “split” credit, which is settled in several installments. In the same spirit, other sites (or applications) offer “deferred” payment (often twenty days after purchase). These payment facilities are found under the English expression “Buy Now, Pay Later” (BNPL). H&M, Walibi, Decathlon, Le Roi du Mattress… since the crisis and the booming development of e-commerce, more and more brands are offering them, often for reduced sums, a few hundred euros maximum. How it works ? When you pay for your basket, a tab offers you a payment “three times by card” or “later”, all free of charge (or very little), then the terms of withdrawals are defined, with a refund at complete within 60 days.

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