GameStop Offers Installment Plans for Xbox Series X and PS5

Famous game retail shop GameStop is considering offering installment plans for interested gamers who want to get the next-gen consoles PlayStation 5 and Xbox Series X in the US.

The company is considering on launching multiple alternative payment models this month, according to some documents that were found by GamesBeat. These options include rent-to-own, layaway, and installment plans. This was confirmed by GameStop during its quarterly earnings report held today.

Check out the options to choose from:

Layaway – Allows customers to keep a product on reserve at a store until they complete the full payment. This allows consumers to commit money toward a purchase in smaller amounts. After completing the payment for the full price, they can now bring home their Xbox Series X or PS5.

Installment plans with third-party processors – GameStop is also planning to add support for third-party payment services. This will allow interested parties to split up a purchase into four payments for a six-week period. The best part is that the payments do not have any interest at all. The third-party services like Klarna and Quadpay will take a commission from the retailers instead.

Rent-to-own – GameStop will work with a separate company that can offer the option of rent-to-own. This allows customers to bring back their next-gen consoles with only minimal up-front money. They can then pay their purchase off between 30 days and 12 months.

GameStop also offers the Xbox All Access option, which allows customers to bring back the Xbox Series X and pay the needed monthly amount for 24 months.

Thanks VentureBeat!