LISTEN: The popularity of 'buy now, pay later' schemes have become a real hit with Kiwi shoppers - exploding in popularity during level four lockdown last year.
So popular apparently, the Government is thinking of regulating them.
Consumer NZ's Head of Research Jessica Wilson told Magic Talk's Peter Williams they are a bit different to the old layby schemes.
"They're marketed as a very convenient option and a good way to pay for your goods if you don't have the cash upfront. So you get the goods and you pay them off in weekly interest-free instalments," Wilson said.
But unlike traditional layby, Wilson says you've got no rights to cancel.
"So if you change your mind or can't keep up with those payments you still have that debt there. You don't have that cooling-off period to change your mind about the purchase and get your money back," she told Magic Talk.
Listen to the full interview with Jessica Wilson above.