List of 'pay later' credit service providers

Business

02 Jan 2019

#FinancialBytes: Best 'buy now, pay later' services available in India

In India, "buy now, pay later" payment options are increasingly becoming popular among customers nowadays.

Several companies now offer "pay-later" services that allow customers to purchase a product/service instantly and pay at a later date. The "pay-later" option is today available for almost everything, including online shopping, bill payment, travel, movie tickets, food ordering, etc.

Here are some best "pay-later" services in India.

#1

PayU's LazyPay is one of the best 'pay-later' service providers

PayU's LazyPay is one of the best 'pay-later' service providers

LazyPay "pay-later" service offers a credit limit of upto Rs. 1,00,000 for instant personal loans, "pay-later" services for bill payments and online shopping, and EMI plans.

It is available for websites like Croma, Swiggy, BookMyShow, OYO Rooms, Ixigo, Zomato, etc. Users can choose LazyPay payment option on a website to avail the service. LazyPay sends repayment reminders on 16th and 1st of every month.

#2

With Simpl, skip paying multiple times; pay one bill instead

Simpl is an innovative pay-later service that simplifies online shopping and bill payments by enabling one-click purchases.

User's purchases are collected/added into one convenient bill which can be paid in one go; bills are generated every two weeks.

Online platforms that accept Simpl include BookMyShow, BigBasket, Zomato, Nykaa, Grofers, Faasos, 1mg, Purplle, etc. Users can choose Simpl as their payment option to get started.

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#3

ZestMoney, another popular 'pay-later' payment service provider in India

ZestMoney, another popular 'pay-later' payment service provider in India

ZestMoney is another popular "pay-later" service provider. Users can apply for a voucher/loan to shop on partner sites and provide details like product name, voucher/loan amount, contact details. ZestMoney will provide users with a voucher code for shopping. The loan amount can be repaid in EMIs.

ZestMoney option is available across 100+ e-commerce platforms, including Amazon, Flipkart, Myntra, Cleartrip, MakeMyTrip, and PepperFry among others.

#4

With ePayLater, shop on credit and pay within 14 days

ePayLater is also a popular "pay-later" payment option that lets users make multiple purchases and pay for all of them at once later.

Users get a 14-day interest-free period for bill settlement from the date of purchase.

ePayLater can be used as a payment option on online platforms like IRCTC, Croma, PVR Cinemas, Travelyaari, Box8, TicketNew, Mojo Pizza, and Aha Taxis among others.

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Amazon

Bill

BookMyShow

Credit Card

Digital Payment

Flipkart

Foodpanda

India

IRCTC

MakeMyTrip

Online Shopping

Pay

Payment App

Urban Clap

Zomato

Aha Taxis

BigBasket

Box8

EMI

ePayLater

FinancialBytes

LazyPay

Mojo Pizza

OYO Rooms

PayU

PepperFry

PVR Cinemas

Simpl

TicketNew

ZestMoney

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Most asked questions

What documents are required for 'buy now, pay later' service?

Are these services offered for free of cost? Is there any processing fee?

Will these companies charge late fee if I fail to repay on time?

How to use LazyPay option on a website?

More questions

What documents are required for 'buy now, pay later' service?

Asked 2019-01-02 02:39:57 by Arnav Singh

Answered by NewsBytes

The "buy now, pay later" service providers require users to create a profile and provide personal identity details like name, phone number, email id, Aadhaar number, etc. Some providers might need additional documents or details.

Are these services offered for free of cost? Is there any processing fee?

Asked 2019-01-02 02:39:57 by Tejas Dasgupta

Answered by NewsBytes

Most of the "pay later" service providers do not charge any processing fees from the customer and offer these services for free. However, some might charge interest on the loan amount; the interest rate might vary depending on the amount and repayment tenure.

Will these companies charge late fee if I fail to repay on time?

Asked 2019-01-02 02:39:57 by Shaurya Trivedi

Answered by NewsBytes

Yes, most "pay later" service providers levy a late fee or some other charge if the customer fails to repay on time, by the due date. These charges vary from provider to provider and are usually calculated on a daily basis. If the customer has opted for auto-debit repayment facility and doesn't maintain sufficient account balance, they will have to pay bounce charges too.

How to use LazyPay option on a website?

Asked 2019-01-02 02:39:57 by Sanvi Tata

Answered by NewsBytes

Users must choose LazyPay as a payment mode on a merchant's (partner) website. After that, an OTP is sent to the user's registered mobile number for verification purposes. After entering the OTP, transaction is processed.

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