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August 13, 2018

Installment plans are back, but with a twist

By ANNE D'INNOCENZIO
AP Retail Writer

NEW YORK — New kinds of installment plans are offering options to shoppers who may remember layaway as something their parents or grandparents used.

The payment businesses, many of them startups, are working with companies like Urban Outfitters or Expedia to give shoppers an alternative to traditional credit cards. While layaway plans were getting used again during the Great Recession, their popularity has faded as shoppers don't want to wait for their purchases.


 
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