When it comes to buy now pay later, Australia takes the lead, and as such it’s easy to be looking for apps like ClearPay if you are familiar with BNPL’s business nature. If you are looking for the best apps like ClearPay that will give you similar services at reasonable rates, then you are on the right page. ClearPay is a comprehensive, integrated payment method that allows you to buy now and pay later.
Because the app provides a very unique service, we are going to show you similar apps to it so you are not limited to one option when you eventually decide to think about BNPL service providers.
What Is ClearPay?
Clearpay is a sister company to Afterpay Limited, a comprehensive credit card processing financial platform that allows you to purchase goods and services now and pay later.
With ClearPay, you can shop from various shops and brands in clothing, beauty, fashion, homeware, automotive, and other specified categories. Also, you can make payments for bills in four installments. The payments are interest-free, so you have nothing to worry about. All you need to worry about is the approval because once approved for your shopping cart, you won’t be asked to pay interest.
Additionally, ClearPay keeps track of your spending and budget if you make all your purchase via ClearPay. It will remind you of your next payment due date if it closes. You make the first payment at the time of purchase, and the other three remaining payments are spread over six weeks.
Its flexibility and no-interest payments make it one of the best buy-now and pay-later apps.
How Does ClearPay Works
Clearpay is a buy now and pay later financial platform which is also a brother company to Afterpay Limited that delivers your purchases upfront at once and allows you to pay for them gradually in four interest fee installments payable every 2 weeks. The first installment, which is 25% of the total amount payable, is made at the time of purchase.
To use ClearPay, choose any of your preferred stores or brand and select ClearPay as your checkout payment method. If you are new, you will need to create an approved account instantly, while as a returning customer, you have to log in.
The retailer will ship the purchases to you after checkout for online orders. For in-store shopping, you must download the Clearpay mobile app and set up the ClearPay card via the in-app instructions. The Clearpay Card can be integrated with Google Pay or Apple Pay to make contactless payments at checkout.
ClearPay does not approve 100% of orders due to its mandate to support responsible spending.
Top 10 Apps Like ClearPay
Below are the top 10 apps like ClearPay offers excellent and reliable financial services, including buy now and pay later.
Afterpay is one of the most respected apps like ClearPay that offers a reliable and transparent solution to shoppers to buy now and pay later. Its financial solution comes with no credit checks, hidden fees, interest, or catch. So you don’t have to worry when using Afterpay!
Afterpay allows you to make payments in four installments. The first installment is made at the time of purchase, and the others are paid every two weeks.
As a new Afterpay customer, you get approval almost immediately, and your order is processed and paid upfront. This is a win-win situation!
Another promising app like Clearpay is Openpay. Openpay offers financial services that allow you to buy now and pay later via interest-free installments. Openpay doesn’t limit you on what you can buy. You can purchase everything if the store or brand supports Openpay payments.
All you have to do is to sign up and check whether the store you want to purchase from accepts Openpay. If it does, make your order, and the app makes the upfront payments while you pay in fortnightly installments to the app.
The repayment duration is 2 to 24 months and comes without interest or hidden charges.
Humm is another app like Clearpay that allows you to purchase products up to $30000 for a repayment term of up to 24 months. The repayments are made in installments. The installments can be made weekly or fortnightly.
The installment does not charge interest or any hidden fee. It is simply a lovely app to try out. Also, Humm supports thousands of brands and stores.
Bread is one of the best buy now and pay later platforms that allow you to pay in easy installments without affecting your credit score.
Bread expands its service to online merchants. To use this app, you can add items to your cart and access a real-time decision that will help your credit score not to be affected. Also, Bread allows you to use your repayment dates with any interest. All payments are transparent on this app, with no hidden charges.
A significant advantage of this platform is the automatic payment feature that allows you to schedule payments before the due date. Additionally, Bread can seamlessly be integrated with your existing platform, and you can customize it to fit your preferred choice.
Deferit is a budgeting and billing that allows you to pay your bills in fortnight installments. The process of paying bills on this app is so simple. All you have to do is upload a picture of your bill to the platform. You can even upload it as a PDP file. After that, choose the amount to pay, and let the app do the rest.
One of the advantages of this app is that you can get discounts if you pay your bills on time. Also, it does not charge any fee or interest.
The budgeting tool helps you keep track of your bill payments and set reminders to pay on the due dates.
I2c is a digital banking app like ClearPay that businesses can integrate, allowing their customers access to the buy now and pay later feature that can help drive more sales.
Other significant features that make it stand out are:
- Flexible risk
- APR adjustment
- Real-time repayment controls
- Reconciling capacities to customize the end-user experience
- End-to-end servicing
- Capacity to make a prompt dAbilityAdditionally, it is an open API card issuing platform that allows you to create customized payment card programs and flexible billing options.
I2c is one of the best multipurpose buy now and pay later platforms for businesses.
7. Clearly Payments
One of the most reliable apps like ClearPay is Clearly Payments. Clearly Payments is explicitly designed for merchants to facilitate end-to-end payment processing that allows for the seamless acceptance of credit cards in-store, either online or mobile.
Clearly payments provide the lowest fee for a merchant account. This platform also offers a well-integrated Point of Sales (POS) system that either be mobile or countertop for restaurants, retailers, and other businesses.
Also, the payment systems can be wireless or wired with pin, chip, tap and swipe to-pay systems. This platform can turn your existing computer into a complete payment system without purchasing extra hardware. All you need is a browser for the virtual terminal.
QuickFee is a digital app that offers payment solutions to businesses to allow them to grow. QuickFee allows online payment, allowing your clients to pay with an e-check, ACH, credit cards, and monthly payment plans.
Like ClearPay, it allows customers to buy now and pay later, payable over 3 to 12 months, without hidden charges. Also, it uses a reminder that reminds you of your due date as it is approaching, so you won’t miss it.
You can accept payments 24/7 using this platform as a retailer or merchant.
Another promising app like ClearPay is CareTime. CareTime is a digital platform for merchants and retailers to access integrated payment processing solutions. It has a documentation system and an electronic visit verification that provides accountability, accuracy, and compliance through telephony and geolocation check-in and checks out.
ClearPay gives you a unified platform to manage your cash flow with transparent pricing and flat rate. CleaPay offers customers the flexibility to choose how they want to pay. They accept ACH, credit cards, and instalment payments
10. Apple Pay Later
Apple Pay Later is an Apple Pay feature that allows you to pay for purchases in four installments instead of paying for everything at once.
Apple Pay Later is a buy now, pay later financial solution that works with Apple Pay or Apple Wallet. You can apply for Apple Pay Later if you use the Apple Pay app or Apple Wallet.
You can use this feature anywhere Apple Pay is accepted.
Does ClearPay Do a Credit Check?
No. ClearPay only runs a soft credit check when you want to use their services. This soft credit check doesn’t impact your credit score or future credit application. Additionally, other lenders do not see soft searches.
Does Clearpay Improve Credit Scores?
No. Clearpay does not improve credit scores because it doesn’t share your repayment data with credit reference agencies. You also need to understand that you need to ensure there is money in your account that can be debited to avoid failed transactions just in case of next time you try to get such an opportunity so you are not denied.
Does ClearPay Affect Credit Scores?
Clearpay affects credit scores because it only carries out soft credit checking, whose searches can’t be viewed by other lenders. Also, it does not share your information with credit reference agencies.
How Does ClearPay Make Money
How ClearPay makes money is that, whenever you use Clearpay to make a purchase, the merchant or retailer pays a small fee to Clearpay for their service. They do not charge interest on installments and late payments because they want to help your finances to be better. This shows that they have a great business model.
The above apps, like ClearPay, are the alternatives you can go for that offers the same buy now and pay later features. Some are designed for retailers and customers, while others are specifically for merchants. Either way, they all have their uniqueness.