India.com Explains: What is Buy Now, Pay Later? E-commerce And Online Shopping Payments Scheme

Buy Now Pay Later is red-hot right now. Not just in the US, but also in India. And if you are not familiar with this term, watch video to find out all about Buy Now Pay Later Scheme.

What is Buy Now, Pay Later Explained: The COVID-19 pandemic has immensely challenged the average consumer’s purchasing power. Staying inside has led to an ecommerce boom with people looking for safer ways to shop, specially online. If you are on a lookout for shoes, and you spot a nice pair worth ₹5000 on an e-Commerce app. But it’s a bit out of your budget. For a moment, you throw all caution to the wind and add the shoes to your shopping cart. However, reality kicks in soon enough and you are now contemplating ditching the purchase altogether. And then suddenly, out of the blue, the app suggests a ‘Buy Now, Pay Later’ alternative. You don’t have to pay the ₹5000 right now. Instead, you can pay it next month. without interest, as the terms and conditions state — “Buy now, pay later.” Buy Now Pay Later is red-hot right now. Not just in the US, but also in India. And if you are not familiar with this term, watch video to find out all about Buy Now Pay Later Scheme.