How to Apply for Buy Now, Pay Later?

There are many online merchants and fintech companies that offer the facility of buy now, pay later or BNPL in short. It is a kind of short-term financing that helps customers to buy things instantly without paying any upfront cost. Through BNPL, customers can buy items and pay for them at a future date without any interest, in most cases.

Significance of BNPL

Today, the option of BNPL is beneficial for both customers and eCommerce portals. This option on major eCommerce portals is playing a crucial role in not only increasing the conversion rate but also the overall revenue. Eliminating the need of having a credit card for shopping purposes, BNPL encourages people to buy things of their choice in easy EMIs that would otherwise be out of their budget.

Now that we have learned what BNPL is and how it works, let’s see out one can apply for it.

How to Apply for BNPL: The Process

While the process for applying for BNPL is more or less the same on different platforms, here we will take the example of ePayLater to understand the process. The app is extremely useful for eCommerce platforms, retail users, and small business owners to overcome their liquidity shortages.

Now, let’s check out the steps:

Step 1: Download the app from the Google Play Store.

Step 2: Enter your mobile number for an OTP-based sign-up process.

Step 3: Enter the required details for activation of your profile.

Step 4: After verification of your details, your profile will be quickly activated, and you will get instant approval of a certain credit limit.

Step 5: Now you are ready to use that amount across its partner merchants.

So, this is the procedure for applying for the buy now, pay later facility on the ePayLater app.

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