Before everyone had access to credit cards, many retailers offered layaway plans, letting shoppers pay in instalments and storing their purchases until payment had been made in full. Walmart stopped offering the service just recently, in November.
Yet with consumer credit-card debt at an all-time high, Florida-based eLayaway is bringing the layaway concept online, offering consumers flexible payment schedules without mounting interest fees, according to Springwise.

Customers pay a one-time fee of 1.9 percent up front and can then set a payment schedule that fits their budget. As soon as full payment has been made, the purchased product is delivered.

Merchants pay an annual $299 fee and no transaction fees to offer the service to their customers.