No Result
View All Result
  • Home
  • Business
  • Marketing
  • Finance
  • Home and Garden
  • Education and Career
  • Fashion and Beauty
  • Health
  • Tech
  • Home
  • Business
  • Marketing
  • Finance
  • Home and Garden
  • Education and Career
  • Fashion and Beauty
  • Health
  • Tech
No Result
View All Result
No Result
View All Result
Home Finance

Why do customers like BNPL?

by Hazel Grace
in Finance, Tips and Tricks
0
0
SHARES
55
VIEWS
Share on FacebookShare on Twitter

Online shopping is becoming increasingly popular because of its convenience. Not only does it allow a person to shop from the comfort of their home, but it can also save them time, energy, and even money. In the aftermath of the 2020 pandemic, new concepts are constantly being developed to make buying even easier.

Among them, one of the most prominent trends is BNPL, or buy now pay later. In today’s market, it has become immensely popular because it allows consumers to purchase products online without worrying about making payments right away. Customers get a hassle-free shopping experience by easing their financial burdens.

It has been a big success with GenZ customers, particularly first-time borrowers.

BNPL – So, what is it exactly?

In this popular financing option, customers are not required to pay immediately for their purchases. Customers are given the option of choosing a future date for repaying the loan or the cost of the products purchased, which is more like a short-term credit given by a third-party service provider.

As opposed to traditional loans, BNPLs offer interest-free financing, or, if interest rates do apply, compared to conventional loans, they are negligible.

Top Reasons why Customers like BNPL

Shop now, pay later is becoming more popular in eCommerce as opposed to using credit cards and cash as payment methods. Here are some reasons why the shop-now-pay-later method is gaining popularity:

  • The Convenience of Payment: This new payment option makes it quick and easy to make a payment after purchasing something. Customers can also pay back the amount later, which is an added benefit.
  • A Promising Credit Source: Banks and financial institutions prefer not to lend money to people who do not have credit scores or income. Credit card eligibility criteria are generally quite strict. In this way, BNPL is an ideal middle ground for millennials, providing a reliable credit source.
  • Seamless Refunds: BNPL enables immediate refunds for products bought via traditional payment methods. In the case of BNPL payments, the refunds are initiated immediately, and the obligation ceases.
  • Flexible EMIs: The majority of companies offer easy EMIs that can be paid over a number of days, weeks, or even months. This makes it easier for GenZ customers to purchase items over their limits.

BNPL Program: Things to Remember

Customers should make a budget before committing to any payback period so they won’t spend money on goods they can’t afford. It is important for customers to understand how their payments work. Even though most companies don’t charge interest, a late fee can apply if you miss a payment. Consistently missing payment dates can also harm your credit score.

Final Words

As long as you feel comfortable returning the money by the due date, BNPL’s success today can be ascribed to its convenience.

Previous Post

6 methods of image upscaling without losing resolution

Next Post

Is BNPL Better than Credit Cards?

Hazel Grace

Hazel Grace

Next Post
Is BNPL Better than Credit Cards?

Is BNPL Better than Credit Cards?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Pain Induced Insomnia Can Impact Overall Recovery Time

Pain Induced Insomnia Can Impact Overall Recovery Time

15 hours ago
Why Lagos Is One of the Algarve’s Most Captivating Places to Find Your Next Home

Why Lagos Is One of the Algarve’s Most Captivating Places to Find Your Next Home

15 hours ago
My Journey Through Moncarapacho, Olhão, and the Algarve Rental Scene

My Journey Through Moncarapacho, Olhão, and the Algarve Rental Scene

15 hours ago
The Strategic Role of Quality Assurance in Software Development

The Strategic Role of Quality Assurance in Software Development

6 days ago
The Irresistible Charm of Vintage Fashion

The Irresistible Charm of Vintage Fashion

6 days ago
Boosting Structural Integrity in Architecture through Expert Masonry Services

Boosting Structural Integrity in Architecture through Expert Masonry Services

7 days ago
Portugal. I come for the traveling, stayed for the real estate opportunities

Portugal. I come for the traveling, stayed for the real estate opportunities

3 years ago
Learn How To Buy House In OAE Without Law Issues and get OAE loans for it

Learn How To Buy House In OAE Without Law Issues and get OAE loans for it

4 years ago

Get Blogo is a web magazine platform. Our aim is to provide trending information. So that, our readers get benefited from this website. Our team is here to provide the latest news and information on different topics.

Category

  • Animals
  • Apps & Software
  • Automotive
  • Biography
  • Business
  • Celebrity
  • Education and Career
  • Electronic & Gadgets
  • Entertainment
  • Fashion and Beauty
  • Finance
  • Fitness
  • Food and Recipes
  • Gaming
  • Health
  • Home and Garden
  • Instagram
  • Jobs and Services
  • Law
  • Lifestyle
  • Love and Relationship
  • Marketing
  • Miscellaneous
  • News & Politics
  • Nursing
  • Outdoor
  • Parents and Children
  • Politics
  • Real Estate
  • Reddit
  • Social Media
  • Sports
  • Tech
  • Tips and Tricks
  • Travel
  • TV Shows
  • Writing
  • Trending
  • Comments
  • Latest
Drew Pritchard Wikipedia – Wife, Divorce and Antique

Drew Pritchard Wikipedia – Wife, Divorce and Antique

March 7, 2023
Catherine Southon Wikipedia, Cancer, Husband and Children

Catherine Southon Wikipedia, Cancer, Husband and Children

July 15, 2024
Catherine Southon Wikipedia, Cancer, Husband and Children

Catherine Southon Wikipedia, Cancer, Husband and Children

0
Drew Pritchard Wikipedia – Wife, Divorce and Antique

Drew Pritchard Wikipedia – Wife, Divorce and Antique

0
Pain Induced Insomnia Can Impact Overall Recovery Time

Pain Induced Insomnia Can Impact Overall Recovery Time

May 19, 2025
Why Lagos Is One of the Algarve’s Most Captivating Places to Find Your Next Home

Why Lagos Is One of the Algarve’s Most Captivating Places to Find Your Next Home

May 19, 2025
  • About
  • Team
  • Privacy Policy
  • Editorial Policy
  • Terms & Conditions
  • Contact

Copyright © 2025, Get Blogo

No Result
View All Result
  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Get Blogo – Web Magazine
  • Home 4
  • Home 5
  • Privacy Policy
  • Team
  • Terms And Conditions

Copyright © 2025, Get Blogo