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What is Pay Later?
Updated today

With Pay Later, you have the flexibility to pay for your eligible purchases at your own pace. Say goodbye to the pressure of immediate payments and hello to the freedom of spreading out your expenses into monthly payments. This means you can free up some money and manage your budget more efficiently. So go ahead, shop with ease and enjoy the convenience of paying later 🛍.


How do I become eligible for Pay Later?

The Pay Later feature isn't available to everyone yet. Once you qualify for Pay Later and make an eligible transaction, you'll receive a notification inviting you to convert the eligible transactions into a payment plan.

To improve your chances of getting Pay Later, we suggest that you keep using KOHO regularly and make sure to pay any subscription fees for other KOHO features on time 👌

Please note that our support agents cannot grant you access to Pay Later upon request.


How does it work?

Here's how it works:

  1. Head to the main spend tab and select "Pay Later

  2. Click on the option to Create a Pay Later Plan.

  3. Pick out eligible purchases that you wish to turn into a monthly plan.

  4. Choose the length of your payment installments. You have the flexibility to select from repayment options available for 3 months, 6 months, or 9 months.

  5. You’re all set! Your Pay Later plan will be successfully created, and the money will be deposited into your Spendable account usually within 24 hours 🎉! Our support agents cannot expedite this process.

Don't forget to check your upcoming payments and ensure you have sufficient money in your Spendable before the payment due date.


Will this impact my credit score?

We don't perform any credit checks for Pay Later approval. However, missed payments may be reported to the credit bureaus.


Do you charge any interest or fees?

We don't charge any interest. However, until all amounts are fully repaid, you will be charged a monthly fee that will be disclosed before you sign up for the Pay Later plan.

Additionally, an NSF fee of $15 (capped at once per month) may also be charged in case a payment fails to clear.


What purchases are eligible to use Pay Later for?

We have specific internal criteria and eligible merchants for Pay Later. Upon making an eligible purchase, if you qualify for Pay Later, you'll see eligible transactions in your KOHO app. However, there are general criteria that your purchases must meet:

  • The transactions must be within a 30-day period.

  • The transaction amounts must be over $100.


How many active Pay Later plans can I have at a time?

You can have only one active Pay Later plan at a time. However, you are allowed to merge several transactions into a single Pay Later plan.


What durations of Pay Later plans can I choose from?

You have the flexibility to choose repayment plans lasting either 3, 6, or 9 months 🙂.


How are my payments collected for a Pay Later plan?

Your payments will be collected automatically each month, providing you with a hassle-free experience! Currently, you won’t be able to pay your loan manually in-app. However, simply ensure you have the necessary money in your Spendable before your due date, and we'll take care of the rest.

Please note that if you don’t have sufficient balance in your Spendable account, an NSF fee of $15 will be charged.

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