The pay later payment method is known to be easy and practical because, unlike a credit card which requires you to complete several complicated requirements at the bank, to get a pay later, you only need to fill in your data with your KTP and payslip. Pay later is also connected directly to online shopping applications that are often used, so when shopping, check out.
Behind the convenience and practicality of the Pay later, risks must be watched out for. Using a pay later is tantamount to increasing debt or installments. Not to mention, the payment later also charges interest for each installment paid.
Then, Do We Gain or Lose Using Pay Later?
The presence of pay later is very beneficial for the community in meeting their urgent needs. The ease of requirements and the fast pay later submission process helps people when they need emergency funds compared to borrowing from a bank. The installment methods provided by the pay later also vary and can be done through various digital wallets.
However, it would be best if you also were careful when using the pay later. Ensure always to use pay later facilitated by P2P peer-to-peer lending under the Financial Services Authority's (OJK) supervision.
Also, pay attention to the interest expense that will be charged by the pay later so you can estimate your financial ability to pay. The use of pay later should only be for critical and urgent needs so as not to damage your credit score.
Thus the discussion regarding the advantages or disadvantages of using pay later. Avoid using pay later if you are still financially able so as not to worsen your credit score and increase your installments.
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