During your expedition in online shopping, you may have heard or come across after pay. This is a service where a website allows the buyer to buy the product now and pay later in small installments over time instead of paying all of it at a go. Also, no fees or interest will be charged to the buyer due to unstable payments, unlike credit cards. Rather, a buyer gets the purchase immediately. Continue to read to find out the benefits of this service both to the buyer.
Take-Home the Purchase Immediately
This is a great benefit to the consumer. The store allows the consumer to take the product home and make payments for the product later. However, you must have an account with the online store to use these services. Once this is done, you can start using the service. Further, buy and pay later services are incorporated with the checkout system of the store. Therefore, you can easily use this service. Provided the repayments are made in due time, the buyer incurs no interest or fees. Also, the payments are deducted automatically from the proposed account.
Easy to Use
Some online stores like phone cases afterpay and several others that offer buy now pay later services have an option of QR-code integrated into them. This feature makes it easier for the consumer to use the service by scanning the code to pay for your purchase. However, not every store employs QR-code; some stores allow the consumer to finish the buy now pay later deals through UPI.
Security and Safety is Guaranteed
Through the use of buy now pay later services, the consumer is assured of safety while making payments without giving out their pin or card. This prevents you from giving out the details of your account or sending money from an electronic wallet. Further, all there is to buy now pay later transactions is a generated OTP which is then sent to the buyer’s phone.
To add to the flexibility and convenience provided by Buy Now Pay Later, this service enables you to form a positive credit profile as long as you make payments in due time as you agree with the lender. Below are steps you can use to build a positive credit by using Buy Now responsibly Pay Later services:
Diligently follow up your Buy Now Pay Later transactions
BNPL allows you to make various transactions with various lenders, but you should keep a tab on the amount spent in total. You are aware of your credit obligations and financial stand;therefore, it is advisable to monitor your transactions with BNPL. Spending too much money can make it hard to pay back your dues in a responsible manner.
Even though Buy Now Pay Later services can be appealing to the buyer through the several benefits it has from taking home your purchase and paying for it later. Online stores such as phone case afterpay and several others offering BNPL services are secure, safe, and easy to use. It is critical to not lose your compass. Uphold credit and financial discipline to build great credit and maximize its benefits.