Independent Research and Policy Advocacy

Report: The costs of using Buy Now, Pay Later (BNPL) products

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Buy Now, Pay Later (BNPL) products have become one of the popular modes for customers to finance their retail purchases. BNPL products are being postured as challengers to credit cards that can make credit more accessible to customers at little to no cost. Yet, the actual costs customers may incur have not been documented. This report studies the BNPL market in India to understand the costs customers can incur in using them based on (i) analysing publicly available information, (ii) recording experiences of using BNPL products, and (iii) seeking expert legal opinion on BNPL products in the market. We specifically study ten BNPL providers including Ola Money Postpaid, Amazon Pay Later, PayTM Postpaid, LazyPay, Unicard, FlexMoney, Zestmoney, Slice, Simpl, and Kissht.

Read the full report here.

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