The Toss deferred payment service is a service in which Toss first pays to the affiliated store on behalf of the consumer, and the consumer pays the payment later. This service was created to provide small credit payment opportunities to unemployed people, students, housewives, etc. who have difficulty issuing credit cards.
Toss Postpaid Payment Service (ft. Toss Pay)
Toss postpaid payment
How to use the Toss postpaid payment service
1. Select a product from a postpaid payment affiliated store and select Tospay at the payment stage.
2. Click the deferred payment button and register an automatic payment account.
3. If you pass the screening, you can use the deferred payment service.
The limit for using the deferred payment service is up to 300,000 won per month, and this month’s payment amount will be withdrawn from the designated account on the 15th of the next month. There are no separate fees or interest charged for using the service.
■ Review of Toss postpaid payment service
Toss’ deferred payment service is said to be convenient because it allows small payments without a credit card.
They say that you can rest assured that the Toss deferred payment service does not affect your credit rating or score even if you are late on your payment.
It is said that it is unfortunate that there are not many affiliated stores offering the Toss postpaid payment service.
Merchants that can use the Toss postpaid payment service
◎ You can check it on the Toss app postpaid payment screen, and as of January 2023, it can be used in 73 brands.
■ Types of affiliated stores
▷Fashion/luxury platform:
Musinsa, Cream, Must It, W Concept, Fashion Plus, Avery, Hiber, Brandy, Style Share, Ribbons, Benito, Flare, 4XR, Second Skin, Liphop, WeMakePrice, Ideas, Must It, AK Mall, Lotte Internet Duty Free Shop, SSF Shop, Dong-A Pharmaceutical D-Mall, Style Crew, 1300 Care, Sparkle Mall, Shoemaker, etc.
▷Travel/Leisure Platform:
How about here, Yanolja, Jin Air, T’way Air, Korean Air, Asiana Airlines, Jeju Air, My Real Trip, etc.
▷E-commerce:
Timon, WeMakePrice, etc.
▷Others (books, pets, eating out food):
Aladdin, Internet Kyobo Bookstore, Hot Tracks, Trevari / Pet Friends, Fit Pet Mall / Yogiyo, Ranking Chicken Com, Perfect Grit Mart, Meat Box, Fresh Code, Today’s Raw, Purmil / Ali Express, etc.
To use the Toss deferred payment service, select Toss Pay at the payment stage of the affiliated store and press the deferred payment button.
■ Fees and credit scores in case of late payment
Fees for non-payment are
A late payment fee calculated at 12% per annum (0.0328% per day) will be charged on the overdue principal. For example, if you are 100,000 won overdue, a late payment fee of approximately 3,280 won per day will be incurred.
Since you cannot use the deferred payment service during delinquency, it is recommended that you pay accurately on the due date.
Impact on Credit Score
Since the Toss deferred payment service is designated as an innovative financial service, there is no or very limited direct impact. However, if deferred payment is delayed for a long period of time, legal action such as debt collection, provisional seizure, and payment order may be taken, which may indirectly have a negative impact on your credit score.
Frequently Asked Questions (Q&A)
Toss deferred payment frequently asked questions
Above, we learned about Toss Postpaid Payment Service (ft. Toss Pay).