Walmart scraps layaway; find out what’s replacing it

BENTONVILLE, AR (WTVQ) – Walmart announced Friday it’s scrapping its layaway plan just before the start of the holiday shopping season and instead is switching to a buy now, pay later plan in partnership with the lending company, Affirm.

Walmart says this will allow customers to buy now and pay over time.

Eligible categories include electronics, toys and home; while some ineligible items include alcohol, gasoline and pet supplies.  For a complete list of categories, click here.

Customers can make or schedule payments at affirm.com or in the Affirm app for iOS or Android, according to the company.

It’s 0% APR for certain Walmart.com products and only for a limited time.  For other items, the APR rate will be between 10-30%, depending on your credit and will show up when you check out with Affirm, according to the company.

Customers will also have the Capital One Walmart Rewards Card option, which offers 5% cash back for online purchases and 2% cash back in stores, according to the company.