With the holidays coming around, people are buying more, yet most Americans are starting to use the “buy now, pay later program” as it becomes more widespread throughout the United States.

This program promotes to the literal meaning of its name. The buy now, pay later system is one in which a customer may buy a product and have the option to pay within a span of either long-term or short-term payments. Clients don’t always have to pay right away; they also have the option of when they make their remittances.

This enterprise is nothing new to society, but more companies are trying it out as it becomes more frequent, and by no surprise they are receiving tens of thousands of new customers every week. Because of this, companies are allowing this payment method for the sake of their profits and sales. Having more people use it comes as an advantage for businesses to gain more customers and money overall.

Driven by various hot Silicon Valley startups and some major credit card companies buy now, pay later can range from many different products such as 60-dollar flower bouquets to 1,299-dollar Apple computers. A distinguished credit card company says 6 out of every 10 of its U.S. customers started this payment program for the first time this year. Commonly, customers have their doubts on buying a new financial product, however, they now have more reassurance of what they are buying. Not only that but they get to enjoy their “new toy” before they start making their collection of payments within time.

Though, if people decide to not pay off what they’ve bought, it will cause financial problems on that person’s credit. “At first it was fun to have access to items typically out of my price range, but sometimes you get surprised and a little miserable that you have all these new payments due,” said Rafikian, a customer who has used the buy now, pay later program several times. Purchasing an item and clearing the money they owe at the right times scheduled is crucial, because if not then they have dept to pay off on when the next payment is due.