Afterpay, Zippay, and Oxipay are cards that offer a buy now, pay later approach with no interest. Afterpay had nearly 400,000 customers who spent $100 million in just the second quarter of 2016. Growth is expected, and Afterpay is experiencing growth, as during the previous quarter in 2016, people had only spent $42 million. In Sweden, these cards hold nearly 60% of the card market. Point of sale software is also available. Customers are able to pay using the card and immediately have the item they purchased, while the producer is paid immediately minus approximately a 4% fee. Customers pay back what they owe over 8 weeks with Afterpay and approximately a month with Zippay, with the option to pay interest to extend the repayment period.
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