A mail order account is a way to purchase goods on credit, either using a physical catalogue or shopping online, and making payments over time instead of paying all at once. This system allows buyers to spread payment for large purchases over time, and it is most commonly achieved with a physical catalogue or via a website. Mail order businesses were originally set up to serve customers in rural areas who would find it difficult to travel in person to the shops, and small businesses would be able to reach a wider demographic of clients with direct mail orders.
A mail order account differs from using a credit card to purchase items because instead of repaying a credit card company, the buyer repays the vendor directly. Most catalogue companies offer purchases on credit, often with interest-free repayments, but it is important to look at extra charges and interest if the full amount cannot be repaid within the given timeframe.
Mail order changed the worldwide marketplace by introducing the concept of privacy and individuality into the retail industry. Today, mail order businesses are still popular and can be set up easily with the help of ecommerce packages that include a shopping cart and credit card processing.
