Buy-Now-Pay-Later is a credit program offered by fintech companies that allows you to shop online with partner merchants. BNPL cards are becoming increasingly popular as an alternative to credit cards, and Credit Mantri, a credit tracking app, lists the BNPL cards most commonly used by these millennials. Here are the most popular BNPL cards.
1. CashE: CashE is one of the easiest BNPL cards on the market. It helps you set up a credit limit through a two-step account activation process. You can manage the card on the Simple app, which also allows you to complete all your online purchases with a single click. It offers you loans of up to Rs. 400,000 for purchases, and the app helps you connect to thousands of local merchants. You can easily repay the amount in two monthly billing cycles or choose equal monthly installments (EMIs) for terms ranging from three months to 1.5 years. The card’s loan program places little emphasis on credit scores and allows people with poor credit to obtain financing.
2/81. CashE: CashE is one of the easiest BNPL cards on the market. It helps you set up a line of credit through a two-step account activation process.
You can manage the card on the Simple app, which also allows you to complete all your online purchases with a single click. It offers you credit of up to Rs. 40 million for purchases and the app helps you connect to thousands of local merchants.
You can easily repay the amount in two monthly billing cycles or choose equal monthly installments (EMIs) for terms ranging from three months to 1.5 years.
The card’s loan program places little emphasis on credit scores and allows people with poor credit to obtain financing.
2. Zest Money: By far the most popular BNPL platform for online shoppers is Zest Money. They work with over 150,000 stores across India and offer lines of credit of up to Rs. 200,000. Zest Money allows users to open an account and get instant credit line approval within minutes. It also helps to purchase goods online and offline with the help of the app without using a credit card and offers 0% EMI on these purchases. You can repay the amount within 3-4 months and there are no penalties for early or partial payments.
3/82. Zest Money: By far the most popular BNPL platform for online shoppers is Zest Money. they work with over 150,000 stores across India and offer credit lines of up to Rs. 200,000.
Zest Money allows users to open an account and get instant credit line approval within minutes. It also helps to purchase goods online and offline with the help of the app without using a credit card and offers 0% EMI on these purchases.
You can repay the amount within 3-4 months and there is no penalty for early or partial payments. 3.
3. Amazon Pay Later : Amazon Pay Later is widely used by most Indians due to its online presence. It offers easy and hassle-free EMI payments for all eligible Amazon apps and Amazon browser purchases. You can track payments, transaction history, limit and manage your account by creating a separate dashboard. There is also no credit check required to apply this. Your credit limit is determined by your bank account. The amount borrowed can be repaid via EMIs over a 3-12 month period. There are no processing fees, cancellation fees or pre-closing fees.
4/83. Amazon Pay Later : Amazon Pay Later is widely used by most Indians due to its online presence. It offers easy and hassle-free EMI payments for all eligible Amazon apps and Amazon browser purchases.
You can track payments, transaction history, limit and manage your account by creating a separate dashboard. There is also no credit check required to apply this. Your credit limit is determined by your bank account.
The amount borrowed can be repaid via EMIs over a 3-12 month period. There are no processing fees, cancellation fees or pre-closing fees.
4. LazyPay: LazyPay is more popular with shoppers because it allows users to pay with UPI at merchant locations. Using the mobile app, you can shop online and offline. It is accepted by popular merchants like Zomato, Tata Sky, MakeMyTrip, Dunzo, GoIBIBO, BB Now, etc. You just need to use PAN card and Aadhar card details to get the same file. The amount can be repaid within 15 days or through EMIs for 3, 6, 9 or 12 months.
5/84. LazyPay: LazyPay is more popular among shoppers as it allows users to pay with UPI at merchant locations. Using the mobile app, you can shop online and offline. It is accepted by popular merchants like Zomato, Tata Sky, MakeMyTrip, Dunzo, GoIBIBO, BB Now, etc.
You just need to use PAN card and Aadhar card details to get the same file.
The amount can be repaid within 15 days or through EMIs for 3, 6, 9 or 12 months. 5.
Mobikwik’s ZIP: Mobikwik’s BNPL service is known as “ZIP”. It can be accessed through the Mobikwikmobile app. It offers an instant credit line of Rs. 30,000. 30,000. The application also does not require any lengthy documentation and if you pay off the loan before the due date, you can enjoy interest-free credit.
Mobikwik’s ZIP: Mobikwik’s BNPL service is called “ZIP”. It can be accessed through the Mobikwikmobile app. It offers an instant credit line of Rs. 30,000. again there is no lengthy paperwork required to apply and if you pay off the loan before the due date, you can enjoy interest free credit. 6.
Flipkart Pay Later: Flipkart Pay Later is the famous BNPL app in India. It enables users to shop online and in physical stores without making a down payment. Consumers need to settle their dues within 30 days. Flipkart Pay Later offers instant credit of up to Rs. 100,000 to loyal app users. It also offers “Try Now, Buy Later” option for select products where you can pay after receiving and using the product.
Flipkart Pay Later: Flipkart Pay Later is a famous BNPL app in India. It allows users to shop online and in physical stores without making a down payment. Consumers need to settle their dues within 30 days.Flipkart Pay Later offers instant credit of up to Rs. 10 lakhs to loyal app users.
It also offers “Try Now, Buy Later” option for select products, where you can pay after receiving and using the product.
There are many buy-now-pay-later options to choose from, so you can shop around and find the one that best suits your needs. BNPL is an emerging credit tool that allows you to make small to medium-sized purchases, especially if you don’t have a credit card. However, if you abuse this tool, your debt can easily balloon and you could fall into a debt trap. Moneycontrol does not promote BNPL; however, if you must, use it wisely and carefully. If you miss only one installment, watch out for hidden fees or conditions that could trigger higher interest rates or penalties.
8/8 There are many buy now pay later options to choose from, so you can shop around and find the one that best suits your needs. BNPL is an emerging credit tool that allows you to make small to medium-sized purchases, especially if you don’t have a credit card. However, if you abuse this tool, your debt can easily balloon and you could fall into a debt trap. moneycontrol does not advocate BNPL; however, if you must, use it wisely and carefully. If you miss only one installment, be aware of those
Hidden fees or conditions that may trigger higher interest rates or penalties.
