'Buy now, pay later' is a growing mode of paymemt that allows consumers to break up payment for items into instalments.

Jae Chia  |  SG
Published 2021-02-05 11:28:28

For a long time, consumers have been content with the various modes of payment available in Singapore. 

From debit to credit cards and e-wallets, paying for purchases was convenient and easy, with payments documented for easy checking and referral. 

Despite this, a new mode of payment — buy now, pay later (BNPL) — has emerged in recent years. 

BNPL promises users all the perks of current payment modes, with the added benefit of deferring payments at no extra charge. 

While still a fledgling service in Singapore, BNPL has been common in Western markets for a long time. Some even posit that it’s what has been keeping some retailers alive.


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