Buy Now, Pay Later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them at a future date, often interest-free. In India, quite a few online merchants and fintech companies are offering BNPL facilities to customers as a convenient payment method and an excellent alternative to credit cards.

Advantages of BNPL
Some of the benefits of BNPL are listed below:
* Increases affordability
* Instant access to credit
* Safe and secure transaction
* Can choose repayment tenure
* No cost EMI
* Simple and transparent process

The BNPL market is booming in India and the reason for the rise is the Pandemic. The ease of access to credit has made BNPL the most preferred product among GenZ consumers, young millennials, new to credit borrowers, who were often underserved or overlooked by traditional banks. 

The future of BNPL can be very bright as the concept will attract more customers to purchase an item of their choice instantly. Most of the lenders who provide this facility offer repayment at no cost EMIs which in the future is likely to become the preferred payment option, especially among the youth.