Top 10 BNPL solutions in India

Are you looking for a good BNPL solution? Read this article to know the top 10 BNPL solution providers in India. Know the advantages and disadvantages of this method of expenditure and what the future holds for this type of facility.

Most of you might have come across the option of Buy Now Pay Later (BNPL) at the time of check out at many e-commerce apps mostly during the time of festival shopping. This new BNPL industry is booming now in India with its aspects to surge many folds shortly. If the latest reports are to be believed this new market in India is set to touch a staggering $40 billion by 2025.

The e-commerce portals are trying to lure the generation Z in India by offering them this short-term sachet loan for easy branded shopping. It gives you an easy option of paying in three easy instalments for the Louis Vuitton handbag you have been eying for a long time now. Other essential platforms such as grocery delivery, food delivery and travel booking among others are also offering the BNPL option to its customers. Many players in India are giving a tough competition to each other to be on the top. Here, we have listed the top 10 BPNL solutions in India for you and the list goes like this:

Amazon Pay Later

Amazon Pay Later
E-Commerce is gaining momentum in India and Amazon has played a major role in it. Amazon launched a virtual line of credit for its eligible customers in the form of the Amazon Pay Later service. The eCommerce platform rebranded its Amazon Pay EMI service to Amazon Pay Later. It gives customers access to hassle-free and instant credit with an easy digital sign up process. The customers can buy any product ranging from electronics to clothing using this instant credit.

It's a three-step simple process and customers can easily register after giving their PAN card number and Aadhar card number to avail of the services. Either you can pay next month at 0% interest or you can convert your purchase into 3 to 12 months' EMIs and you don't need a credit card for the same. You can set up an auto repayment schedule as well by linking your debit card/bank account to selected banks after making one verification transaction of up to Rs 5. This amount is refunded to your account within 5 to 7 business working days. It displays the applicable plans for your purchase on the payment page during checkout.
Another advantage that Amazon Pay Later gives its customers is that there are no pre-closure charges.

Flipkart Pay Later

Flipkart BNPL
Flipkart is another big bull in the market of the eCommerce sector which also trends in the list of top 10 BPNL solutions in India. It is also giving the Flipkart Pay Later payment option to its customers along with its other partner platforms. This pay later service of Flipkart makes it possible for you to go for bigger purchases in a short period without feeling any financial burden. Flipkart has made it a simple one-click experience for you and also offers credit for over a month without any extra charges. It gives you benefits like no down payment required, no-cost EMI, easy EMIs for up to 48 months and an application process in 30 seconds. You can pay for all your shopping in just one bill after shopping throughout the month. This easy EMI option makes even expensive items very affordable for you without any paperwork and financial planning. However, this option is currently available for limited products on Flipkart. You can also opt for Pay Later on Myntra, 2Gud, and other partner platforms of Flipkart.

Paytm Postpaid

Paytm Postpaid BNPL
Paytm Postpaid is a breather for you if you don't want to wait for your payday to buy the latest stuff of your choice. You can instantly get the credit of up to 60000 from Paytm and make bill payments or make purchases or book tickets or recharge using this borrowed money. You can pay at more than 5000 locations using this app online or offline because Paytm has a wide network of partners. You can simply activate your Paytm Postpaid feature by submitting your PAN card details and Email Id. It's a simple two-minute process. It charges no activation fee from its customers and offers 0% interest for up to 30 days. Paytm has been able to reach all corners of country with more than half of all businesses accepting online payments having the option of Paytm. And wherever you have a Paytm QR code
(not the only UPI one), Paytm Postpaid works. This means starting from your vegetables, milk and going up to paying in a posh restaurant, you can use it anywhere.


Simpl BNPL
It's a new kid on the block and the biggest surging rival of Amazon, Flipkart and Paytm in the 'Buy Now, Pay Later' business. Simpl fits the bill for you if you ever wanted to have a one-click payment option for all your purchasing. Simpl is like your online 'Khata' (account) or a Tab for online commerce. With a simple signing-up process, the company gives you more than 7,000 category-leading online merchants such as Zomato, MakeMyTrip, BigBasket, Jio Platform, 1mg, Crocs and many more. The customer can delay the payment of his purchase for 15 days using the one-step "Pay Later" option of Simpl. The EMI option is also available for those who want to have a little breathing space sometimes. Your credit limit keeps growing as you keep using this Buy Now, Pay Later App. Pay in 3 is one of the latest offerings of the app which allows the customers to make payments for their purchase in 3 equal payments every month.


LazyPal BNPL
Another company which also has joined the bandwagon with its entry into the list of top 10 BPNL solutions in India, is LazyPay. The Pay Later option of LazyPay is available on over 100+ merchant platforms. LazyPay allows you to make purchases whenever you need services like food, airlines, clothes, electronics and many more. You can make payments once in 15 days without facing any interest rates. EMI plans at zero-cost or low-interest rates are also available while shopping for expensive items. Great cashback, easy repayment methods and instant approval with paperless KYC are a few of the great offerings made by the app.

Freecharge Pay Later

Freecharge Pay Later
This is another Buy Now Pay Later digital credit product, where you can make your purchases today and make payments within a defined period of the transaction date. In case you find yourself strapped for funds for any reason, this pay later service is useful for you. You can buy or purchase goods or avail of service now, and pay at a later date using this service. You can use this service for making payments on the Freecharge platform e,g, Mobile, DTH, Broadband, Electricity, Landline etc. and to pay at Merchants also who accept Freecharge Pay Later. It is available across 2500+ stores.

Freo Pay

Free Pay
Freo pay is also a BNPL app which boasts to give you the freedom to shop without any worries from anywhere in India and payback after 30 days. The highlight of this app is that it is a UPI based app which means greater acceptance due to higher penetration of UPI QR codes. With minimum digital KYC, the postpaid amount gets disbursed within minutes. This BNPL app, like many others, also enables users to convert purchases into interest-free instalments. Signing up with Freo Pay is easy. All you need is just your Aadhar Card or PAN to start making transactions at your convenience.

Mobikwik Zip

Mobikwik BNPL
This Buy Now Pay Later app is fast emerging as one of the leaders in the Indian market which claims to provide the unserved Indian population with their first credit experience. It boasts to have become a product of choice for 25 million consumers and it handles more than 4 million BNPL transactions annually. This BNPL app also enables its users to pay bills, shop for clothes, groceries, electronics, order foods, medicines and much more from the comfort of their homes. It allows users a credit up to Rs 30,000 at 0% interest after a simple signing-up process. The users can essentially shop at 1 Lakh+ brands. The bill is generated every 15 days, which means twice a month. So, this means the users can shop all they want and simply pay it back later at 0% if paid on time.


Slice BNPL
Exclusively designed for youngsters, Slice is a Visa-partnered credit card. With the availability of emergency cash and easy EMI, it checks all the boxes in terms of convenience. This Visa card that comes for free with its pay-later app is available in both virtual and physical forms. This zero-fee card enables Slice users to make purchases or payments at over 4.8 million merchants across India wherever Visa is accepted. The unique offers and perks it makes include cashback and no-cost EMIs during the festive sales.


FlexPay BNPL
FlexPay is a similar kind of product in the market which is billed as a digital payment solution. Its pre-approved credit line lets you pay for a variety of purchases at multiple outlets from a small Kirana store to a large retailer in India. FlexPay also has a multilingual interface and advanced security features among others.

The quick payment option of BNPL has become quite popular among Indian consumers but like any other product, it also has its pros and cons. In this blog, we will also talk about both sides of BNPL services but will start with highlighting the positive side first.

Pros of BNPL Solution
There are a few eligibility parameters including, your income, credit score, credit history, etc. when you want to avail a credit card. Your application even gets rejected if you fail to meet the said criteria. Thankfully, this is not the case with BNPL solutions because it doesn't ask you for a better credit history or score or lengthy paperwork.

Its easy to use features make it a much safer and fast payment option which you can use from the comfort of your home. Moreover, you don't need to share your OTP even if you are going for an expensive purchase. The BNPL is considered a safer payment option because it doesn't make it mandatory to share your card or bank details, and it is also not necessary to disclose your financial information.

The other benefits it offers are:
  • Fast, easy set-up and approval
  • Free of cost
  • Lower charges
  • Interest-free terms
  • Spread out payment plans

Cons of BNPL Solution
Someone once said these wise words that in this digital age of multiple eCommerce platforms and hundreds of new shopping schemes every day, people are buying wants and not needs. So is the case of BNPL solutions if we talk about the negative side of these fast payment solutions. You miss a payment and there could be late fees, deferred interest or other penalties, depending on the lender because we all know borrowing money never comes without consequences.

Few other disadvantages of BNPL
  • Encourages impulse spending sometimes
  • Late payment fees
  • Can affect your ability to apply for loans
  • You may be spending money more than you have

However, it remains a personal choice based on your financial situation and spending habits whether to use BNPL solutions or not like any other financial product.

Apart from all the plus and minus, it's a solid fact that even traditional banks have also joined the bandwagon such as HDFC Bank's FlexiPay and ICICI Bank's ICICI PayLater offerings. These things add to the credibility of the BNPL solution and there is no doubt that the Buy Now Pay Later is set to surge over many folds in India and outside in near future.


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