GameStop Introduces Installment Payment Plans for PS5 and Xbox Series X/S

Preparing for the release of the Sony PlayStation 5 and Microsoft Xbox Series X/S, GameStop is now preparing to launch an installment payment plan program for the next-gen consoles.

Revealed in a series of internal documents, the American video game, consumer electronics and gaming merchandise retailer is looking to help offer an alternative way to own the systems. GameStop is currently looking into installment plans, direct layaway and rent-to-own plans.

Installment plans would be offered through third-party companies like Quadpay and Klarna, requiring customers to split their purchase into four payments over six weeks with no interest. Layaway would see customers pay small installments over a certain period of time to clear the full payment before they receive their consoles. While the rent-to-own plans would let customers rent the new consoles for an upfront fee, with the rest of the cost paid over a 12 month period. Customers can then fully pay off the cost to own a console or return the system within the one year period.

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