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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.[1] BNPL is generally structured like an installment plan money lending process that involves consumers, financiers, and merchants. Financiers pay merchants on behalf of the consumers when goods or services are purchased by the latter.[2] These payments are later repaid by the consumers over time in equal installments. The number of installments and repayment period varies depending on the BNPL financiers. The Reserve Bank of India, India's central bank, has only authorized lending to NBFCs, (the only organizations other than banks). Simpl is currently only available to customers whom retailers have given a go-ahead.1 Jul 2023 best pay later application for students best pay later application for salary Employed सबसे अच्छा laon application sabse achha loan application 2024 ka sabse achha Loan application 2024 ka sabse achha pay later application paye turant loan swigy zomato se khana order kare payment 1 mahine baad kare The earliest form of BNPL traces back to the 19th century, when installment plans emerged as a way for consumers to purchase expensive goods (e.g. furniture, pianos and farm equipment) they did not have the funds to buy outright.[3] In India, BNPL is considered similar to the country's traditional paper-based Udhar Khata system, where corner shops, known as kiranas locally, kept manually logged credit ledgers to allow their customers to buy provisions on credit and repay them later.[4][5] In the early 21st century, fintech companies developed systems that allowed installment plan lending to be integrated into the payment flow of online shops, allowing a consumer to receive instant credit at the point of sale and pay for a purchase later, based on an agreed schedule. The integration and instant processing elements are what sets BNPL apart from other approaches to consumer lending.[6] #paypal #money #loan #paylaterapp #trending #new #appli#students stude#empowerment #rbi #nbfc #paisa #credit #gym #paylaterapp #payment #simple #swigy #zomato #educational #india #trendi#video