Excess And Paylater Shortage: Watch Out! Two-Eyed Knife!

Paylater Excess And Shortages (Jp Valery Image - Unsplash)

YOGYAKARTA - Paylater is one of the features that is widely used for online transactions. The reason is, this feature offers users to buy first, pay later or buy first and make money or pay afterwards, matching the set deadline. In other words, this feature is the same as some kind of installment that has existed since time immemorial. Let's find out what the advantages and lack of paylaters are!

Interestingly, the results of the Katadata Insight Center (KIC) and Kredivo surveys in 2022 show that this feature ranks third for features that are very widely used after bank transfers (virtual accounts) and e- wallets. Moreover, the presentation of e-commerce consumers who use the paylater feature is located at 56%.

Wow, looking at the numbers, in fact paylaters can help share easier shopping experiences for many people. Especially women who are the most paylater users in Indonesia up to 67, 2%.

However, because the paylater has the same concept as installments, this feature must also have pros and cons, you know. What do you think are the advantages and lack of using a paylater?

If you use this feature wisely, there are some benefits of using a paylater that you can have, such as:

The first advantage of the paylater is that this feature makes the transaction process you are undergoing more efficient and effective with online systems. Not bad with downloading fintech or e-commerce applications that already have a paylater feature from your gadgets.

Not only that, but convenience can also be obtained with a very short and instant process. Generally, when you want to use this feature as a payment procedure in an application, you just need to learn the terms and conditions that apply. So that after you use it, you know when to pay it plus the interest that has been determined by the service provider.

Well, this one could be very related to many people, where the other overpayer is very helpful when there is a need to press on old age or moments when you are not paid or there is no money in hand. So, the need to buy goods can always be fulfilled even though your financial situation is no longer possible for now.

Who is not interested in promos? Yes, promos that attract a kind of discount or cashback are generally very popular with many people. One of the advantages of paylaters is that this feature is often brought in to coincide with attractive promos, thus making users prefer to use it instead of using the direct payment system.

For example, the advantage of Shopee Paylater, where generally Shopee offers free delivery fees when you carry out transactions with a paylater feature. As a result, transactions made can be more efficient without the payment of delivery that you must pay.

Although paylaters share many conveniences in transactions, you also need to recognize the dangers of paylaters that can be experienced when using them, such as:

One of the fewer paylaters is a relatively large interest. Although the concept is similar to a credit card, but the paylater has a comparison in terms of interest payments. Financial planner Mitra Rencana Edukasi (MRE), Andri Nugroho said that if you use a credit card, in general you will only be charged interest when you don't pay the bill according to the required maturity.

This is different from the paylater, where when you pay the bill, the total payment that must be paid includes the interest in it.

Without realizing it, rutility using a paylater can make you accustomed to debt. Because it is very comfortable to buy goods using this kind of installment method, your financial situation can be affected if you do not manage it properly.

For example, you have difficulty paying a paylater bill when it comes to maturity, but because it has become followed-up, it is not impossible if you will always use this feature again. As a result, this matter can make you feel comfortable in debt.

When you want to use the paylater feature, generally one of the conditions is to enter a number or image of your ID card. That means, you have shared personal information into the application system. However, it cannot be denied, at this time the problem regarding information leakage and the capability of the possibility is still ongoing in Indonesia. Therefore, try to think first when you want to provide personal information through the application or internet.

The efficient method of spending pocket money is not to behave impulsively. Impulsive buying or impulsive purchases are a tendency to buy objects without planning first. An impulsive attitude often takes place by buying goods automatically without thinking about the value of these items in the future.

The paylater feature is very helpful because all the conveniences it offers, but unfortunately, the convenience of the transaction is even able to urge a person to continue to be consumptive which leads to impulsive attitude. If not handled quickly, this impulsive attitude can be a risk for your financial situation.

The method of saving money to stay away from impulsive attitudes is to use financial applications. Moreover, financial applications can help record your finances every day, weekly, to monthly to protect the state of your financial management.

It should be remembered that the paylater feature can bring benefits and losses to users, depending on how wise you are when you use it. The reason is, when you have so many installments to buy objects, the number of bills that come in can make your financial situation unstable.

So after knowing the advantages and disadvantages of paylaters, see other interesting news on VOI, it's time to revolutionize news!