Does Walmart Have Layaway?

Does Walmart have layaway right now? The answer is no. Walmart has officially stopped the layaway plan.

Walmart recently made the decision to end its layaway plan and replace it with the new Buy Now, Pay Later (BNPL) system. In this article, you’ll learn how the new layaway alternative plan works.

What is Walmart doing instead of layaway?

Walmart is switching to its new plan, Buy Now, Pay Later. This new plan was created in partnership with Affirm. Affirm is a loan or credit company that helps users shop from their favorite stores and pay for it later at a fixed monthly installment plan.

Front view of Walmart Supercentre building

With the new Walmart BNPL plan, customers can now purchase, walk away with items and pay back within 3 to 24 months with no interest or hidden fees attached. This plan brings a different twist to the old layaway plan where you have to make the final payment before you can walk away with your items.

However, the new BNPL plan doesn’t cover all items or all purchases. You’ll need to meet the requirements before you can qualify for it (see later sections of the article for information on the BNPL requirements).

Is “Buy Now, Pay Later” the same as layaway?

Walmart’s Buy Now, Pay Later (BNPL) plan isn’t the same as the old layaway system. Though both credit services are similar, the major difference is that Layaway plans require you to complete your installments before you can take an item home after purchase.

That means once you make the first installment, you’re only securing your items. Walmart will keep that item in place for you so no one else can purchase it. Once you pay the full price of the item, then you can take it home.

On the other hand, BNPL plans allow customers to take home their products even before completing payment. You just have to pay the first installment before you can do that. 

How do you qualify for Affirm at Walmart?

To qualify for the Affirm-Walmart BNPL plan, you’ll need to make purchases between $144 to $2000. As for the categories of items you can purchase, you can buy the following items and pay later:

  • Electronics: Laptops, TVs, iPhones, video game consoles & accessories, etc.
  • Home furniture & improvement tools
  • Sports & outdoor gear
  • Children toys
  • Baby accessories/ electronics
  • Clothing/apparels & jewelry

Walmart aisle stacked with pillows and towels

Any item outside these categories are ineligible for Affirm financing. So you can’t buy medications, groceries, and even liquor to pay later. You also can’t buy the following items with Affirm financing:

  • Tobacco & cigarettes
  • Wireless services plan
  • Baby consumables
  • Pet supplies
  • Gas
  • Weapons & accessories

If you’re not sure that you meet the qualifications, or you’d like to apply for the BNPL plan, click here to register or learn more.

BNPL vs. Layaway: Which is better?

Both the BNPL and Layaway payment systems have their pros and cons. The choice of which one to use comes down to your preferences as the customer.

If you make the first installment for a toaster at Walmart and plan to pay later, you can take it home and begin using it immediately. Your only concern afterwards would be how to complete that payment.

Although most BNPL platforms claim not to affect your credit score, your account can be reported as a delinquent to Credit Bureaus if you refuse to complete your installments. This can place a black mark on your account and affect your future loan applications.

This is where Layaway plans start to look like the better option. They don’t affect your credit score, even after the due date of payment. The reason is because you didn’t take home your item. 

In a scenario where you miss the due date of payment, you can opt to cancel the plan and Walmart will refund your money.

For the most part of this article, we tried to answer the question, “does Walmart have layaway right now?”. The answer is no. Walmart no longer operates the layaway payment system. Customers are better off using the new BNPL plan or other services like PayPal to pay their installments.

Here are some Walmart related questions you can also get answers to: