Most Slovaks base their purchasing decisions primarily on their financial means. In the case of unexpected expenses, the ability to spread out payments over a fixed period can make a significant difference. That’s why 24pay is introducing a new payment method – PayLaterTB. This new option allows your customers to pay for their purchases later through a simplified consumer loan.
PayLaterTB is a new online loan service from Tatra banka, developed as an alternative to BNPL (Buy Now, Pay Later). Compared to typical BNPL services, it offers more favorable fees and is regulated in a way that protects consumers from excessive debt.
Why choose PayLaterTB?
- No additional contracts. You don’t need any extra agreements or processes with an installment company or bank. It’s integrated directly into the 24pay payment form as one of the available payment methods.
- Fast and easy approval. Once loan is approved, you can immediately ship the goods or provide the service.
- Secure financing. Payments are disbursed in full and according to the agreed schedule, ensuring financial stability and security for your business.
- Access to financing. Your customers can pay using a consumer loan designated for a specific purchase, increasing the likelihood of completing the transaction even if they don’t currently have the full amount available.
- No financing fees. Unlike BNPL systems, with PayLaterTB you pay only a one-time fee for the received payment.
Benefits for your customers
- Flexible instalment options. Customers can choose the instalment amount and repayment period, ranging from 6 to 96 months, giving them maximum flexibility.
- Interactive calculator. An interactive TB calculator is available directly next to the product, instantly calculating the instalment amount.
- Consumer loan for products and services. Financing from €100 to €30,000 is available not only for products, but also for services - for example, it can be used to pay for a driving school course.
- Low interest rate. A fixed interest rate that does not change over the entire repayment period.
- Online process. The entire loan application process is handled online and assessed within minutes, saving your customers time when purchasing in instalments.
Practical example
Let’s take a customer who wants to purchase goods worth €2,000. With a loan that has a fixed interest rate of 6,49% p.a., a repayment period of 48 months, and a one-time loan fee of €0, the monthly instalment amounts to €47,50. The annual percentage rate (APR) is 6,78%. The total repayment amount is €2,280,00.
Interest is calculated based on the actual number of days in each month and a 360-day year.
The new 24pay solution - PayLaterTB is the ideal choice for merchants who want to increase their revenue and offer customers flexible payment options.
Browse our available payment methods. For more information, feel free to call us at +421 911 025 039.