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Chase moves into buy now, pay later market

Chase moves into buy now, pay later market

Chase is wading into the booming buy now, pay later market, giving credit card customers the option to pay off a purchase over a period of time with no interest, just a fixed monthly fee.

Available for purchases over $100, My Chase Plan enables cardholders to select a recent transaction and choose a repayment timeframe and personal monthly payment amount that can run from three to 18 months.

Activated via the bank's online presence or mobile app, My Chase Plan also offers a calculator that will approximate what a particular ‘Plan’ might cost before the purchase is made.

“We developed My Chase Plan to provide our cardmembers with more flexibility and control of their payment options,” says Anthony Cirri, general manager - lending and pricing, Chase Card Services. “With the holidays fast approaching, this embedded card feature can be used to pay off gifts and everyday purchases alike.”

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