ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Buy-now-pay-later (BNPL) loans can let you make purchases immediately but pay them off over time with no interest.

Detailed explanation-2: -What is Pay Later Facility? Through ‘Pay Later’ facility user can upload the eForm/ generate SRN for MCA21 services in one step and make the payment at a later point in time using the online payment mode (Credit card or Internet banking or through NEFT).

Detailed explanation-3: -Buy now, pay later plans allow consumers to make purchases and pay for them in several installments. Credit cards also let consumers pay over time, but the only required payment is the monthly minimum due. The pros and cons of BNPL plans and credit cards depends on the consumer’s financial situation.

Detailed explanation-4: -Buy Now, Pay Later Process Financial technology companies like Sezzle, Afterpay, Paypal Pay, and Amazon Pay are some examples of BNPL providers. There are two types of BNPL, loans with and without interest. The only difference is that customers often get charged if they fail to pay.