Advantages Of Buy Now Pay Later

Buy Now Pay Later or Shop Now Pay Later is the snappy way to refer to a system where the customer takes home their purchase and pays for it over a period of time.

Hip New Way to Get Credit

The buzz surrounding it is immense, the new app on the credit scene, reliable, well connected, and, most importantly—easy to use! Finance technology has taken the buy now, pay later strategy to a whole new level.

Is it brand new? No, it's the same concept as having a credit card, except so much easier. And possibly cheaper as well!

The Pros: Pay Later, Buy Now

For shoppers, the advantages are clear, EMI options are available at your fingertips and with much less hassle than traditional methods of buying through credit:

1. You will have the opportunity to buy affordable goods that may be slightly out of your price range if you have to pay the full amount immediately

2. You will not have to collect the whole amount at one go, spending all your disposable income

3. Many such BNPL companies offer various discounts, offers, and so on, and loyal customers may see many benefits.

For many young people with dreams, but a fixed monthly budget, this model can be their way of fulfillment. They can both stick to their budget, fulfilling all their other responsibilities as well as get the small luxuries their heart desires.

Anything to Beware of?

For consumers who are new to the buy now pay later model,  should keep some details in mind while using these financial technologies:

Fees: Note any fees that will have to be paid, and make sure that none of them will pile on each other

Minimize costs: Some consumers go overboard in excitement and forget to account for their accumulated monthly outgoings. This may result in the accumulated amount being higher than their planned budget

Interest cost: Don't forget to add the value of the interest to your costs

So Pay Later, Buy Now, and Make Your Home the Coziest

Enjoy making your house the home of your dreams on a budget with BNPL.

FAQs

1. What fees do I have to pay for BNPL?

This will depend on the finance technology you use. Some charge merchant transaction fees; that is, the merchant you buy from is the one who is using the BNPL solution, and you will not be charged an excess amount for using the option. The other type of BNPL tech is a shopper interest loan, which works like an EMI, charging interest over the period of repayment.

2. Will I be able to buy from anywhere?

You will be able to buy from various connected markets depending on which fintech you use. These can be online or offline merchants.

3. How do I avail cashback offers?

Not all merchants or fintech will offer cashback offers. For those that do, you can avail by referring to their terms and conditions. Cashback offers are a good option to reduce your overall costs and give you more value for your money.

Download the LazyPay app, get your credit limit and enjoy making those purchases like you never have !!!