Meaning
BNPL stands for Buy Now, Pay Later. It is a short-term credit facility that allows customers to purchase products or services instantly and pay for them later in easy installments or after a fixed period.
How It Works
At checkout, users choose BNPL as the payment option. The provider pays the merchant, and the user repays the amount later, often with zero or low interest.
Benefits
BNPL is popular for managing cash flow, budgeting purchases, and accessing interest-free credit for a short period.
