Convenience is king for both the consumer and the business. One of the latest trends in consumer finance is the Buy Now and Pay Later (BNPL) model. This payment method allows shoppers to make purchases without paying the full amount upfront. Instead, the cost is split into manageable instalments with little to no interest.
It is a great alternative to payments made traditionally by credit cards or financed by a personal loan, as Buy Now and Pay Later EMI options have lower interest rates.
Calculating EMI using an EMI calculator
Before discussing the benefits, it’s important to calculate your EMI. Using an EMI calculator will help you better plan your finances. It will give you a clear picture of your financial commitment and help you decide on the best plan for your budget.
Let’s look at some of the benefits of Buy Now and Pay Later.
- Instant EMI in 10 seconds
Imagine being able to walk into a store, pick up your favourite items, and get approval for easy monthly instalments (EMI) in just 10 seconds. That’s the magic of Buy Now and Pay Later. This instant approval process is designed to be quick and hassle-free, allowing you to make purchases without the usual waiting period associated with traditional credit applications. With just a few clicks or taps on your smartphone, you can get the green light and take your items home immediately.
- No paperwork
One of the biggest hassles with traditional financing methods is the mountain of paperwork involved. From filling out lengthy application forms to providing various proofs and documents, the process can be cumbersome. Thankfully, Buy Now and Pay Later eliminates this trouble.
- Valid on both credit and debit cards
Unlike some financing options that are only available to credit card holders, Buy Now and Pay Later can be used with both credit and debit cards. Whether you prefer using your credit card for its rewards and benefits or your debit card, you can take advantage of this flexible payment method.
- Flexible payment terms
Flexibility is at the heart of Buy Now and Pay Later. You can choose a payment plan that suits your financial situation. Whether you want to spread the cost over a few weeks or several months, there are options available to fit your needs. This flexibility helps you manage your finances better and ensures that you can make your purchases without straining your budget.
- Cash-free convenient payments
In a world that is increasingly going cashless, Buy Now and Pay Later aligns perfectly with the trend. Payments are made electronically, reducing the need to handle cash. This not only adds convenience but also enhances security. You can make your payments through online banking, mobile wallets, or directly from your card.
- Exciting cashback offers
Who doesn’t love a good deal? Many banks and brands offer exciting cashback deals when you opt for Buy Now and Pay Later. These offers can significantly reduce the overall cost of your purchase. Let’s say you’re buying a new smartphone and getting a portion of your money back as cashback. It’s like getting rewarded for spending.
Buy now, pay later: effortless shopping, flexible finances
The Buy Now and Pay Later model offers a convenient, flexible, and secure way to make purchases without the immediate financial burden. Whether you’re eyeing a new gadget, furniture, or even everyday essentials, Pine Labs offers a pay later EMIs that let customers avail easy EMIs. Pine Labs makes it possible to buy what you need now and spread the cost over time. With instant EMI approval and no paperwork, it’s a smart choice for shoppers.
