Avail BNPL anytime, anywhere

Buy now pay later is a facility where users and customers can buy goods ranging from clothes to electronic items to furniture and even automobiles. The BNPL facility requires customers to pay a token 20% to 25% during the time of purchase and pay the remaining amount in monthly or fortnightly installments spread over six months and even beyond a year, depending on the size and bulk of the goods or services being purchased. Some several features and benefits are being added regularly to attract more and more customers. There are virtually no interest costs unless the payment of a bulk item is spread over a longer period, and even the interest cost in these cases is much less. 

Buy now pay later has become widespread and is available at many outlets and POS (point of sale) at any time, especially online and anywhere. All that the user needs is a consistent internet connection. BNPL has become a shopping portal in itself, which is so complete that it is winning the trust and confidence of shoppers and buyers.  

Too good to resist

Some of the great incentives to use the buy now pay later services include

Irresistible customer acquisition offers- BNPL services and fintech companies have partnered with several online shopping centres, online stores, holiday package makers, health care providers, and even schools and colleges to offer customer acquisition. Having recognized the increased sales potential as people discover increased purchasing power with the buy now pay later facility, merchants and stores are offering irresistible incentives to buy products and services. There are cash-backs and rewards for first-time users. New to these forms of credit customers are known as NTC (New to Credit). Once they are persuaded and they get convinced about the overall benefits of BNPL, fintech companies can attach this new customer base to increase their market share.There are also rewards and loyalty bonuses for people using BNPL services regularly. While people are opening more credit, they are also getting returns in terms of rewards and points that they can redeem for discounts on future purchases. The only charges that come are charges for late or delayed payments though these are still much less than the high-interest costs charged by credit card companies for delayed payments.BNPL is convenient for merchants and owners of online shopping stores as they get paid in full whenever a customer purchases; fintech companies recover the cost gradually through the EMIs. Not only are the merchants protected from recovery risks, but they also have a ready market by being featured in the search engines of fintech companies. They have little need to advertise or go for sales promotions as the fintech companies do these for them. All they need to pay are service charges.BNPL has evolved to now include variable and flexible credit schemes for differently priced goods such as furniture and home modification items which can cost a lot. EMI schemes are extending up to even two years. This makes these high-priced items affordable for customers and increases the customer base for these high-end online stores and merchants. The magic words pay later themselves serve to open a whole new world of financing opportunities that boost sales.

A 24 x 7 service

The wide scope of BNPL in such a relatively short period has enabled BNPL services to be available literally anywhere and anytime. Buy now, pay later available in almost every major country. It is only a matter of time before international travelers can use this facility, especially when BNPL is linked to credit and debit cards. Holidaymakers can use BNPL in a facility known as a holiday now; pay when you return. This essentially means that people going on holiday can choose BNPL at the POS while making payments for holiday booking

The widespread buy now pay later is available everywhere and anytime. Fintech companies have ensured that BNPL appears as an option at virtually every POS site. Customers can choose between the different sales options such as card charging, COD (Cash on Delivery), or BNPL.    

The wide use of buy now pay later was made possible by ensuring that this facility is available at every POS and customers have easy access to it whenever they are making a sale or any payment. Today it is available for the asking.

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