Buy Now Pay Later !!!

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Hello :wave: How are you all? Are you feeling energized this morning? Honestly, I don’t have that much energy today. :face_with_hand_over_mouth:

If anyone is feeling a bit lazy, then I’m here with another topic.:dancing_women:

Do you know what the “Buy Now Pay Later” feature is? :thinking: Buy now, pay later (BNPL) is a type of short-term financing that allows you to make purchases and pay for them over time, usually with no interest.

In India, we have some popular BNPL apps like Simpl, Lazypay etc. I have used those out of curiosity and guess what? it turned out really well.:moneybag:

Are you using any BNPL right now? What’s your experience with that? Would you recommend it? Should Revolut also think about it?

Let us know in the comment section.:arrow_down_small:

Veda | Community Team

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Yes yes yes.

I use Monzo Flex a lot which has been very handy splitting the cost over time.

Revolut isn’t a bank in the UK though so we don’t have any credit products yet. :face_holding_back_tears:

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Ahh! Thanks for letting us know about it @Carl_1460. :heart_decoration:

SG | Community Team

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Here in Brazil we do this directly on the PoS, buying in installments directly on the credit card.

So it automatically spread on the next bills.

Example: Payment 1/3 R$ XXX,XX

Usually stores offers it without interest (some time up to 3 installments, but could go up to 12, normally).

But if you have the store credit card, their installments plans could go up to 36 or 48 months.
(Usually people do this longer plans when buying furniture for the whole house, like just got married and is buying kitchen furniture, freezer, refrigerator, bedroom, sofa)

The maximum I did was a big refrigerator in 12 installments without interest direct from the manufacturer website (was cheaper than the local store and also had free shipping) :scream:

Here usually the interest is included on the price so it can be advertised in 12 installments without interest but if you ask and buy paying all at once you get a discount.

Our credit card have a higher interest fees (mine is 15% monthly) if we don’t pay on time, but usually if you call the card/bank and asks to pay it by installments you got a lower (3% monthly fee).

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Thanks for sharing that with us @Eudes. :smiley:

SG | Community Team