Amazon U.K. is giving online shoppers a monthly payment option on purchases worth more than £400 (approx. $589). Its new “Pay Monthly” program is provided by Hitachi Personal Finance, and is similar to that offered by rivals like John Lewis and Tesco.

Pay Monthly lets you spread out the cost of expensive goods so that you don’t have to pay the full price up front. Amazon and Hitachi are currently offering two-, three-, and four-year plans that will make things like computers, televisions, and smartphones more accessible to many.

The interest rate for these plans is 16.9 percent, reports Business Insider, and customers will have to be approved with a credit check. In most cases, you’ll know whether or not you qualify for the plan in under a minute, Amazon says.

“If you’ve been approved for the instalment loan provided by Hitachi Personal Finance, and placed your order on, we’ll prepare and dispatch the items in your order,” the retail giant explains.

“If the items you purchased in your order are dispatched in multiple deliveries, your first payment will be due 30 days after the last package is dispatched.”

Although similar payment plans are offered by many retailers in the U.K., this one is being described as a “gamechanger” for Amazon, which offers far more products than most. It will certainly make the retailer even more competitive.