Pay Bills in Installments

đź’¸BNPL for bills
•
May 12, 2022
Cover for Pay Bills in Installments

Can I pay utility bills in installments?

Yes, you can pay your utility bills in installments. Part of the growing trend of Buy Now Pay Later (BNPL) payment plans, Pay in installment programs allow the users to split the cost of their utility bills into four installments over time. If you make each installment plan payment on time, in most cases, you will pay no interest. You'll get whatever you order or buy as fast as you would by paying the balance immediately. Instead of having to pay for something all at once, you can spread out the financial pain over several (usually four) payments. Company that offers these services are Neon.

What does “pay utility bills in installments” mean?

This term refers to paying off a purchase in equal installments as part of a BNPL plan. Sometimes called a point-of-sale installment loan, a Pay in 4 service splits the total cost into four equal, interest-free payments. There are a few restrictions to be aware of depending on the app used, but this type of program is appealing to customers who might have difficulty paying a full bill upfront. Compared to using a high-APR credit card to pay bills in 4 payments, a Pay in 4 plan is more affordable.

Can I use pay in bills installments easily?

Yes, you can easily pay utility bills in installments. Neon is the first Buy Now Pay Later (BNPL) for essential recurring bill payments in the US. Bill categories currently covered include Rent, Electricity, Gas, Water, Telecom, Internet, Insurance, and Parking. Neon's BNPL model allows customers to get a virtual, interest-free monthly credit line for their essential expenses and pay back evenly over time.

What Bills can you pay with Neon?

The most common bills that we pay are utility bills like electricity, gas, water and other bills like Rent, HOA, insurance, parking, home security, internet and wireless. Almost any bill can be paid by us, if all information required for these bill payments are mentioned. This includes the payment details, bill amount, and due date. 

Share this post on Twitter