GameStop offering payment plans for the first time


GameStop, a video game retailer, will begin offering payment plans for upcoming consoles.

Alex England

GameStop has announced they will be offering a payment plan for the PlayStation 5 and Xbox consoles coming out this winter. For the first time, gamers will be able to pay for their consoles over a period of time instead of coughing up $499 for each system. GameStop plans to provide gamers with three different payment options for the systems.

The first payment option offered is to put the console on layaway. This means the console would be reserved for customers at the store until they are able to pay for it. This will be especially helpful given the excitement surrounding a new generation of consoles will likely cause most stores to sell out.

The second payment option offered is to pay for the console in installments through third-party entities. GameStop has announced they will be working with several third-party companies to help gamers pay for their console over a set schedule while still having the opportunity to enjoy the consoles. GameStop is allowing gamers to make four scheduled payments over the course of six weeks to make the new systems more accessible for gamers.

The third and final option presented by GameStop is their “rent-to-own” plan. In an internal memo, GameStop said they were working with a reputable company to help provide a rent-to-own service for their players. This allows gamers to leave the store with the console for a low up-front cost, paying the rest of the price back over the course of one to twelve months.

GameStop’s new plan is certainly unique in the gaming world and will likely help more people be able to access the newest technology in gaming quicker than ever before.