What Makes Buy Now, Pay Later Ideal for India’s Generation Z of Millennials

It’s easier than ever to buy your favorite gadgets thanks to a range of buy now, pay later payment methods. Young buyers across India are embracing these buying methods now, paying in the latter as they make their life so much easier. Anything from buying the latest flagship smartphone to replacing the old refrigerator in your home can be daunting when it comes to pricing.

You know you want the best for yourself, but paying all that money in one go can break your budget. Buy now, pay later payment methods can help solve those problems and make buying your favorite electronics less complicated both online and offline. These payment methods are a hit among Indian millennials and Generation Z for a number of reasons.

Today, we’ll tell you everything you should know about buy now, pay later, and how you can get the most out of them:

Buy now, pay later?
Simply put, buy now and pay later payment methods allow you to shop and pay later in a way that’s convenient and right for you. It’s almost like using a credit card, but without actually owning the card. The buy now, pay later method is easier to understand and use and does not come with many constraints. In most cases, you won’t have to pay a hefty processing fee or interest.

Can young Indian buyers buy now, pay later?
A big reason why buy now, pay later is so popular among young Indians is that almost anyone can use these services. The amount of credit you can use will depend on the service you’re choosing and your credit history. These services do not require a lengthy and complicated registration process. Buy now, pay later Pay later services can be accessed both online and offline in a variety of ways.

What makes buy now, pay later so perfect for India’s millennial generation Z?
The easy availability of credit is not the only reason why young Indians and members of Generation Z are adopting buy now, pay later. There are several advantages of using these payment methods over conventional payment options for big box purchases.

  • Flexible repayment options: This is possibly the biggest advantage of buy now, pay later. You no longer have to worry about missing monthly expenses when you buy a big box product with Buy Now, Pay Later. You can choose from flexible repayment options that fit your budget. After the initial payment, you can pay the remaining amount without interest like monthly installments.
  • No handling fees: Typical personal loans require high processing fees. Buy now, pay later service completely eliminates that, making it much more accessible and cost-effective.
  • No salary is unclear: Buy now, pay later, payment methods usually do not involve any hidden interest or fees. Everything is easier to understand while making a purchase, and you don’t have to read pages with confusing legal content while making a purchase.
  • No documentation required: Buy now, pay later, payment method that does not require any paperwork. You can also avail of these services online without uploading any special documents.

Which buy now, pay later service is ideal for buying utilities?
Not all buy now, pay later services are created equal. Some will be suitable for a specific product range while others will be suitable for a different product category. As we mentioned earlier, these convenient payment methods come in all sizes and shapes, depending on your credit history and bank affiliation.

Ideally, you should choose to buy now, pay after service brings the least friction. These services come with a specific timeframe for interest-free repayment that can range from days to weeks. Choose a service with no hidden fees or processing fees. These will eventually add up and hurt your overall budget.

What are some popular postpaid payment methods for buyers?
HDFC Bank’s FlexiPay is a buy-now, post-pay service that lets you buy your favorite speakers, headphones, and more without worrying about making a large one-time payment. If you have an HDFC Bank debit card, you are automatically eligible for this payment service. HDFC Bank FlexiPay no extra fees for 15 days and no extra fees. You can avail credit from Rs. 1,000 to Rs. 10,000 instantly any time of day or night. Refunds are also easier; you can choose from 15 days to 90 days for a nominal fee per month.

Another useful postpaid service from HDFC Bank is EasyEMI. This works best if you are on a tight budget and are looking to buy an expensive device. With HDFC Bank EasyEMI you have the option to pay in installments by converting your large transaction into easy installments. HDFC Bank EasyEMI works for both online and offline transactions and is available with HDFC Bank debit and credit cards. EasyEMI allows you to take advantage of EMI payment options at no extra cost and comes with flexible return schedules that are ideal for your large electronic purchases.

If you are already an HDFC Bank credit card user, you can simply convert your large purchases into SmartEMI for comfortable return options. SmartEMI offers very attractive interest rates, among the lowest in the market. HDFC Bank SmartEMI offers repayment terms from 6 months to 24 months.

Shopping for your favorite gadgets doesn’t have to be complicated anymore. To learn more about HDFC Bank’s payment methods, click here.


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