GameStop Could Offer More Ways to Pay for the PS5 and Xbox Series X

The company is mulling over three payment options

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According to a report from VentureBeat published yesterday, GameStop might launch multiple payment options sometime this month. These payment options should make it easier to purchase the PlayStation 5 or Xbox Series X.

The first payment option is layaway, which lets you keep a product on reserve at a store until you pay for it completely. This lets you pay for the PlayStation 5 or Xbox Series X in smaller chunks over a period of time. Once the console is paid for, you can take it home.

The second option is support for third-party payment services, such as Klarna and Quadpay. These services let you split the cost of a console into four payments over six weeks. Each payment would be interest-free, with Klarna and Quadpay taking a commission from retailers.

The third and final option is rent-to-own. With this option, you can rent a console and pay it off between 30 days and 12 months. You have the option to pay off the console and own it, but you don’t have to — you can return it at any point within the 12-month period.

All of the payment options give customers a good deal of flexibility when buying the PlayStation 5 and Xbox Series X. They also give GameStop more ways to recoup some money. The company’s revenues and stock price have declined in recent years, though hardware sales could help GameStop stem the tide a bit.

Then again, these are unprecedented times. The coronavirus pandemic has upended the global economy, with growing numbers of people ending up unemployed as a result. As such, hardware sales of the next-gen consoles might not be as high as initially expected.

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Williams Pelegrin is a Managing Editor for Back to the Gaming. When he’s not writing up news, he’s talking a walk around the neighborhood with his wife and his dog. Either that, or drinking a cup of hot chocolate. Or both.

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