TALLAHASSEE, Fla. (WTXL) — Walmart won't offer its traditional seasonal layaway program this year.
Walmart's seasonal layaway program, which ran from late August to mid-December, allowed customers to put items on hold with a small deposit and make a series of interest-free, regular payments until the total is paid off. Once paid off, customers could collect purchases from their local Walmart store.
For select products, Walmart will now a by-now-pay-later program called "Affirm."
According to the website, Affirm offers 10 percent to 30 percent APR on a wide variety of product categories, including electronics, video games, toys, home, arts & crafts, musical instruments, home improvement, auto, sports & outdoors, tools, baby, jewelry and apparel.
Some promotional items on Walmart.com will also be made available at 0 percent APR.
Loan repayment options range between three months to a year for purchases between $144 to $799.99 and 1 to 2 years for purchases between $800 to $2,000. According to Walmart's website, Affirm does not charge any late fees, prepayment fees, annual fees, hidden fees or service fees to open or close accounts.