BNPL - Understand Everything about Buy Now Pay Later

Understand what BNPL (Buy Now Pay Later) means and how the Bajaj Finserv Insta EMI Card helps you shop instantly and pay later in easy EMIs across top brands like Amazon and Flipkart.
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BNPL - Buy Now Pay Later on Easy EMI with Insta EMI Card
4 mins
05 October 2025

In 2026, India has become one of the world's fastest-growing BNPL (Buy Now, Pay Later) markets, projected to reach a staggering $25 Billion this year. Driven by low credit card penetration (only ~5%) and the massive adoption of UPI, BNPL has transformed from a luxury into a daily utility. Whether it’s for food on Simpl, electronics on Amazon Pay Later, or groceries via Paytm Postpaid, BNPL offers Indian consumers interest-free credit for 15–30 days with a single tap. It bridges the gap between aspiration and affordability, allowing over 100 million users to shop instantly and pay in flexible EMIs without the hurdles of traditional banking documentation.

Redefine your shopping experience with India’s ultimate BNPL solution. While standard Buy Now, Pay Later (BNPL) apps limit you to small-ticket purchases, the Bajaj Finserv Insta EMI Card empowers you with a massive pre-approved limit of up to ₹3 Lakh. Join over 5 Crore Indians who are bypassing high-interest credit cards for a 100% digital, interest-free alternative.

What is Buy Now Pay Later (BNPL)?

Buy Now Pay Later (BNPL) is a popular payment option that lets you shop now and pay over time, rather than paying for your purchase all at once. With BNPL, you can split your total bill into manageable, interest-free monthly payments. This allows you to make purchases without feeling immediate financial strain, giving you more control over your cash flow.

For example, Bajaj Finserv Insta EMI Card acts as a BNPL tool, offering you a pre-qualified loan limit, which can be used to convert your purchases into easy equal monthly installments. This can be done across 1.5 lakh+ partner stores, both online and offline, making shopping convenient and budget-friendly.

How does Buy Now, Pay Later work?

The process of using BNPL with Insta EMI Card is quick and easy. Here's how it works:

  1. Shop: Choose from any leading online or offline stores.
  2. Select BNPL option: Pick the "Buy Now, Pay Later" option during checkout.
  3. Use Insta EMI Card: Enter your Insta EMI Card details.
  4. Choose your EMI plan: Select the repayment tenure that fits your budget.
  5. Confirm with OTP: Complete the purchase by entering an OTP to confirm.

In just five easy steps, you can buy premium items like a laptop or even your dream vacation, all while paying in easy EMIs over months. Money in 24 hours, and no immediate pressure!

Benefits of Buy Now, Pay Later (BNPL)

Buy Now, Pay Later (BNPL) is a simple way to shop where you get your items right away but pay for them over time. Instead of paying the full price upfront, you break the cost into smaller payments that are easier to handle.

  • No Extra Interest: Most plans do not charge you extra interest if you pay on time, so the item costs the same as it would with cash.
  • Quick and Easy Setup: You can get approved in seconds at the checkout screen without having to fill out long bank forms.
  • Better for Your Budget: It is easier to manage your money when you pay a little bit every two weeks rather than spending a large amount all at once.
  • Safe and Transparent: You can see exactly how much you owe and when your payments are due through a simple app on your phone.

Using this service helps you buy what you need today without emptyng your bank account. It is a helpful tool for staying in control of your spending while still getting your shopping done.

Eligibility for Buy Now, Pay Later with Bajaj Finserv Insta EMI Card

To access Buy Now Pay Later via Insta EMI Card, make sure you meet the following eligibility criteria:

  • Indian citizen aged between 21 and 65 years.
  • Employed with a regular income and valid documents.
  • Good credit score (for better approval chances).

You can quickly check your eligibility by following just 2 simple steps.

Check your pre-qualified offer and enjoy shopping on Easy EMIs. Just enter your mobile number, and you'll receive an OTP to see your offer right away.

Check Also: Documents Required for Insta EMI Card by Bajaj Finserv

How BNPL Impacts your credit score

BNPL services can affect your credit score in two ways:

  • Positive impact: Responsible use of BNPL can help you manage your finances better and improve your score by showing you're reliable with repayments.
  • Negative impact: Missed payments or delays can hurt your credit score. Always ensure timely repayments to avoid any negative impact.

BNPL vs. credit cards: What’s the difference?

Here’s a quick comparison of BNPL and Credit Cards to help you choose the right option:

Aspect

BNPL (Buy Now Pay Later)

Personal loan

Approval

Easy approvals

Requires good credit score

Interest-free period

Up to 48 months

Standard interest-free period

Repayment

Fixed EMIs

Minimum payment option

Rewards

None

Cashback, reward points

Acceptance

Limited to partner stores

Widely accepted


BNPL tends to have lower fees and charges than credit cards but offers less flexibility in rewards or consumer protections.

Is BNPL right for you?

BNPL is perfect if you want to buy items now and pay overtime. But, like any financial tool, it requires careful management to avoid overspending. Here are some factors to consider before using BNPL:

  • Financial discipline: Ensure you can make repayments without sacrificing other essential expenses.
  • Understand terms: Review any fees, interest rates, and repayment timelines carefully.
  • Use for planned purchases: Use BNPL wisely for planned expenses like electronics or vacations, not impulsive buys.

Future of BNPL: What’s next?

BNPL is growing rapidly, and new trends are emerging, including exclusive deals for BNPL customers. Companies are now expanding the use of BNPL for everything from travel expenses to medical treatments, making it an accessible and flexible payment option for all kinds of purchases.

At Bajaj Finserv, BNPL through the Insta EMI Card is not just for shopping; it’s a great way to manage your travel expenses. Travel now, pay later by splitting the cost of your vacation into Easy EMIs.

Final thoughts: Shop smart with BNPL

With Bajaj Finserv Insta EMI Card, Buy Now, Pay Later gives you a hassle-free way to make purchases on your terms. The ability to convert purchases into easy EMIs, combined with the flexibility and zero or low interest, makes it an excellent financial tool for managing your purchases without strain.

Check your pre-qualified card loan offer in just 2 steps and start enjoying the flexibility of BNPL today! Don’t wait — money in 24 hours, and easy EMIs are just a click away.

Take action now: Check your eligibility for the Insta EMI Card to start your shopping spree with easy payments.

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Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-qualified limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

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Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.
For customer support, call Personal Loan IVR: 7757 000 000

Frequently asked questions

What merchant categories allow the BNPL payment option?

You can use the Insta EMI Card to shop from merchants across 1.5 lakh+ partner stores and major e-commerce markets:

What does BNPL mean?

Buy Now, Pay Later (BNPL) is a modern payment model that allows consumers to make immediate purchases without the need for an upfront payment. Instead, the total cost is divided into manageable instalments, providing flexibility in settling the amount over a specified period, typically ranging from weeks to months. This concept has gained popularity as an alternative to traditional payment methods, offering consumers greater financial flexibility.

Is 'Buy Now, Pay Later' a good idea?

Whether BNPL is a good idea depends on individual financial circumstances and responsible usage. For those with a disciplined approach to budgeting, BNPL can offer convenience and flexibility. However, it requires careful consideration to avoid accumulating unnecessary debt. Users should be mindful of interest rates and fees associated with late payments. Responsible utilization of BNPL can be a beneficial tool for managing expenses, especially for those seeking short-term financial relief.

Why is BNPL growing?

BNPL is experiencing rapid growth due to its appeal to modern consumers seeking flexibility in their payment options. The model resonates with younger generations who may prefer installment-based payments over traditional credit cards. The seamless and user-friendly online experience offered by BNPL services has contributed to its popularity, especially in the e-commerce sector. Additionally, the absence of stringent credit checks makes BNPL accessible to a broader audience, fostering its widespread adoption.

Will BNPL replace Credit Cards?

While BNPL is gaining prominence, it is unlikely to entirely replace credit cards. Both payment methods serve different purposes and cater to diverse consumer needs. Credit cards offer a more comprehensive range of financial services, including credit-building opportunities and rewards programs. BNPL, on the other hand, is favoured for its simplicity and transparency, particularly among those who prefer installment-based payments. The coexistence of these payment options in the market suggests that they cater to distinct preferences, and the choice between them depends on individual financial goals and habits.

What is an example of a BNPL?

An example of a BNPL service in India is ZestMoney, which allows consumers to make purchases and pay for them in instalments over a period, often with no interest if paid on time.

Is buying now, paying later similar to an instalment loan?

Yes, BNPL is a form of instalment loan where the total purchase amount is divided into smaller, manageable payments over a set period, typically without interest if paid on schedule.

Where can I use the buy now pay later option?

BNPL options can be used at various online and offline retailers, including e-commerce websites like Amazon and Flipkart, as well as physical stores that partner with BNPL providers.

What credit score is needed for Buy Now, Pay Later?

BNPL services often do not require a high credit score. They may have more lenient credit checks compared to traditional loans, making them accessible to individuals with low or no credit history.

What are the reasons to opt for Buy Now Pay Later?

BNPL is convenient for managing large purchases by spreading the cost over time, often with no interest. It is also useful for those without access to credit cards or traditional loans, enabling immediate purchase power.

Do you pay interest on Buy Now, Pay Later transactions?

Interest on BNPL transactions depends on the provider and terms. Many BNPL plans offer interest-free periods if payments are made on time, but missing payments can result in fees or interest charges.

What happens if I don't pay BNPL?

Failure to pay BNPL instalments can lead to late fees, interest charges, and a negative impact on your credit score. Continuous default may result in collections actions and difficulty accessing future credit.

Does BNPL affect my credit score?

Yes, missed or delayed payments on BNPL purchases can negatively impact your credit score, while timely repayments can help improve it.

How to choose the best BNPL provider?

Look for low or no interest, flexible repayment options, and widespread acceptance to select the best BNPL provider.

Is BNPL a good option for online shopping?

Yes, BNPL offers a convenient and budget-friendly way to shop online by splitting payments into manageable instalments.

Why is Bajaj Finserv Insta EMI Card best for buy now, pay later?

The Bajaj Finserv Insta EMI Card offers instant approval, flexible repayment options, and is accepted at 1.5 lakh+ partner stores.

Who is eligible for BNPL?

Eligibility criteria vary by provider, generally requiring age proof, income stability, and a valid identity document.

What happens when I don't make repayment in time?

Late repayments can result in penalty fees and negatively affect your credit score, impacting future credit opportunities.

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