Shortage Of Funds? Avail The Buy Now, Pay Later Option

Amrina Alshaikh
Apr 06, 2020   •  1 view

For a person using frequent online transactions, paying by card/net banking or refilling any e-wallet can become tedious. Also, for anyone having less balance left in the wallet at the end of the month, affording food and other things can be difficult. Do not worry because we have a plan which lets you enjoy your meals for free!

Free as in till your account has been credited with salary or your family has sent you money. But this offer stands within our specified cycle, without any interest to be paid. We are the simpler versions of credit cards, except you don’t own any card. Such ‘buy now, pay later (BNPL) option is the new trend and rapidly increasing its base of happy customers, especially among the youth.

What Are These Schemes?

This Pay later scheme is simple. Make your purchases, book your tickets, or go for that trek; just pay back later. This makes transactions easy, and at the end of the cycle, you can pay for all at once. The cycle is typically 15 days, after which a late fee is added per day. There cannot be a transaction failure or refund issue with the company as you are safe because you are always logged in to the company’s database without any of your sensitive details included.

These companies eliminate the dependencies on third-party payment service providers such as payment gateways, banks, etc. thus improvising on the transaction success rates. When you get your bank statement, you skip through a lot of payment confusions; you pay for everything at once.

  1. Pay Later offerings are small forms of loans or credit. They give those privileges only to credit-worthy customers. If someone is most likely to repay, he earns an opportunity to use such apps like ours.

  2. When you have frequent transactions throughout the day, you suffer from more failures at gateways or by banks. Instead of paying 200 ten times, you can use us, which is guaranteed to work, and pay 2000 at once. This saves your significant transfers and time.

  3. You just need a few personal details like your PAN or Aadhar card and a formal selfie to avail of the service. Once registered, after meeting all the eligible criteria, you are good to go.

  4. Just like a credit card’s pay later option, you are allowed a period (mostly a 14-30 days cycle) to repay to avoid penalty charges. If not paid on time, you lose your extended credit limit and have to pay extra charges which will be added on a per-day basis to your original amount. However, you are reminded of the end of the cycle via constant SMS or WhatsApp or calls from the customer executives. This is because we do not want you to miss the date.

  5.  Good credit behavior is encouraged by extending the credit limit of customers or giving cash backs according to the offer available at that time.

  6.  Life becomes easier with buy now, pay later schemes. You can order food from Zomato or book your tickets at Make my trip, get movie tickets, or pay your cable bills; the unnecessary hassle is gone.

Several other websites and apps which have tied up with pay later scheme are IRCTC, Swiggy, Yatra, OYO, Samsung, Flipkart, Reliance energy, Dunzo, redBus, and 250+ more.

Buy Now, Pay Later options are the new saviors of people with all-day transactions or people with not so lavish salaries. On a long term basis, such a feature helps in getting returns in the form of interest. Safe, secure, and comfortable; it is the revolution meant to stay and dominate. However, a person might get the urge to overspend, and that is something we do not want. So be careful, download the app and start smart spending right away!