"Buy Now Pay Later" is disrupting the Digital Payment Space

BNPL is a very unique and authentic mode of online payment. Generally, they provide BNPL options to customers for all their shopping needs offline as well as online. The customer get a interest free credit for about 15-45 days generally.

How do BNPL companies make money ?

BNPL companies either charge a flat fee from merchants for conversion or a fixed percentage of the sale amount. Their revenue also includes late fees or interests which they charge from customers for late repayments.

Benefits for Buyers :

1. Interest free credit for all their needs.

2. No OTP requirement

3. Very less payment failure

4. One time monthly repayment

Benefits for Sellers :

1. Higher conversion rate

2. Sellers receive on time payments from BNPL companies.

Famous BNPL companies worldwide:

Affirm , Klarna , Afterpay

Famous BNPL companies in India :

1. Lazypay

2. Simpl

3. Zestmoney

4. E-pay later

5. Sezzle

and many more Startups are entering this space.

BNPL is really solving the real problems of buyers and sellers and hence they are catching eye of every Stakeholder be it Buyer, Seller or Investors. There is a very huge opportunity in BNPL space therefore many foreign companies are also entering India to expand their footprints. Hence, BNPL is beneficial for buyers as they are getting more Payment options, Secure payments and Cashbacks as well, Whereas sellers are able to expand their customer base.

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