Pay later app

Best 4 Pay Later App

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I am sure that you have ordered food online or book your tickets online, recharge your mobile and buy something. It is so simple to order just go to the app and search for items, select them and pay by just one click. But you must have faced this problem like when you run out of money and especially in the last week of month. But every problem has a solution, for this “buy now pay later” is the best solution.

Yeah you heard right “ buy now pay later” means you have to pay later for that item when you have no money in your pocket. It sounds like a credit card but the interesting part is that you can pay them back later, direct interest free if you paid within the first week of the next month from payment date.

Paytm Postpaid Buy now pay later
Patym postpaid buy now pay later

So in this article we are going to tell you about what a “buy now and pay later” app is and how it works, how to use and last not least what is the list of pay later apps in india. 

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What are ‘buy now and pay later’ apps?

‘Buy now and pay later’ is the idea that allows users to pay later for the item that was purchased by them. It sounds like a virtual credit card but there is little difference in concept. In credit card interest fee is charged according to the bank.But in ‘buy now pay later’ the interest is free if you paid within the first week of the next month.

On the internet you will find lots of apps through which you can pay later.These apps make shopping easy and also it makes transactions easy. 

These are the most popular apps for online shoppers who want to purchase something without paying the price at same time. 

Top 4 Pay Later App

To help you find that one best Buy now Pay later app that is made just for you. We have done comprehensive research on various apps available in the market and came up with the list for Best pay later app.

 Paytm Postpaid

Patym Postpaid
Patym Postpaid

Paytm Postpaid Launched digital credit to its users and comes as a great payment app for those who prefer digital transactions over hard cash. First it is available for the ICICI bank user only but now it is launched for everyone.

Paytm Postpaid credit has a limit upto 100000 INR (1 lakh) which you can use to buy large items like Led tv and mobile or more. Paytm Postpaid’s biggest advantage is that it is widely available in the market.

Eligibility Criteria

In order to avail the benefits from paytm postpaid you have to be eligible to use (100000 Inr) from paytm postpaid credit. The eligibility criteria is listed below.

  • You will have to complete your KYC
  • You will also have to submit your bank details

Advantages of paytm postpaid

  • Credit limit is upto 1 LAKH 
  • Accepted Widely
  • Low Convenience Charges
  • Freedom from Payment Hassles

Lazy Pay

Lazy Pay (buy now pay later)
Lazy Pay (buy now pay later)

Lazy pay is the part of PayU. It is an innovative payment gateway or service that has been built to provide you one-tap payment. To avail the benefits from lazy pay you have to download it from playstore.

Lazy Pay offers one-tap credit payment on merchant portals like Swiggy, Urban Clap,Fresh Menu, BookMyShow and more. But you have to pay back the dues over a 15 day period. That means an invoice summary is generated every 15th day of the month.

Eligibility Criteria

In order to avail the benefits from lazy pay you have to be eligible to use (100000 Inr) from lazy pay credit. The eligibility criteria is listed below.

  • You will have to complete your KYC
  • You will also have to submit your bank details

Benefits of Lazy pay

  • One- tap payment
  • Credit upto 100000
  • Accepted across 250+ websites and app
  • No cost emi

ePayLater (shop now pay later)

ePayLater
ePayLater

ePaylater gives users the option to ‘buy now and pay later’ on online portals like tickets book with just one-tap payment. ePaylater offers personal loans to those users who are seeking instant credit. 

To avail the benefits of ePaylater you have to download it first and then sign up there. It has a limit of upto 20000 Inr. And Interest will only be charged on the amount you borrow if you do not pay on time.

ePaylater is a new payment option in IRCTC. ePaylater is only available to IRCTC customers. In ePaylater You have to pay back the dues over a 15 day period. That means an invoice summary is generated every 15th day of the month.

Eligibility Criteria

In order to avail the benefits from epaylater you have to be eligible to use (20000 Inr) from  ePaylater credit. The eligibility criteria is listed below.

  • You will have to complete your KYC
  • You will also have to submit your bank details

Benefits of ePaylater

  • Instant credit upto 20000
  • Secure payment
  • Quick checkout
  • Discount coupon

SlicePay

SlicePay
SlicePay

If you are a student then this app is for you my dear friend. SlicePay is an e-commerce platform

That is only available for students. And it also supports all major e-commerce sites like amazon, flipkart and paytm.

You can purchase products from slicePay and amazon, flipkart and paytm through an easy EMI option by paying a portion of the product amount as down payment and the rest of the amount on a monthly EMI basis on the first week of the month.

To avail the benefits of SlicePay you have to download it first and then sign up there. After that use the credit. And then Interest will only be charged on the amount you borrow if you do not pay on time.

Eligibility Criteria

In order to avail the benefits from SlicePay you have to be eligible to use it. The eligibility criteria is listed below.

  • You will have to complete your KYC
  • You will also have to submit your bank details

Benefits of SlicePay

  • zero fee card
  • use anywhere, pay later for free
  • no cost EMIs and more
  • Secure payment

How to use SlicePay

  1. login on slice app
  2. complete on-site verification to activate
  3. start using your card 
  4. repay using UPI, debit card or netbanking

How to use ‘ buy now pay later’ apps?

I think now you know about the “buy now and pay later” app. Now let’s see how to use it.In just some simple steps you are able to use these apps.

  1. Download any “buy now pay later” apps that mention above.
  2. Sign up in the account
  3. Fill the details
  4. After that you get credits in your account.
  5. Use credits
  6. Repay using upi, debit card , credit card and net banking

Faqs On Pay Later app

  1. How do I use my Pay Later account?

    Select the PayLater option while making the payment on online marchents and the amount will be debited from your credit limit. The debited amount will be repay first week of the month.

  2. Can I extend my repayment date?

    No, You cannot extend your repayment date under normal circumstances, but if you have any technical problems in repaying your loan, you can reach out to the company’s customer care centre.

  3. What documents can I submit as address proof?

    The documents for address proof to be submit are Aadhaar card include passport, voter ID, bank passbook, driving license, gas bill, electricity bill, bank statement, landline bill, or mobile bill.

  4. How do I close my PayLater account?

    In just three simple steps.
    login to ICICI iMobile Banking app and tap on Pay Later tab.
    Now tap on More options > Request for Account closure.
    Finally select the reason for the closure and submit your request. That's it. Your account closure request will be processed within 1 working day.

Final Words

Pay later apps give you an easy payment itnerfernce especially for people who do continous amount of online transactions. These apps give you some time to pay the amount of item. You have to pay later for that item when you have no money in your pocket.

But the easy payment gateway may also have some disadvantages and it can lead people to spend more amount of money. So, you need to be more careful while using any of the pay later apps.

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