Should You Use ‘Buy Now Pay Later’ Services? Atome vs Grab PayLater vs Hoolah vs OctiFi vs Rely vs Split
A short excerpt:
If you have done any online shopping in Singapore, you might have noticed that some e-commerce merchants are offering you a new way to check out.
Apart from the traditional credit cards/debit cards and digital payment solutions that require you to pay the full amount upfront or the credit cards that offer instalment plans, we now have the Buy Now Pay Later (BNPL) payment option.
With BNPL, you can delay your payments and split them up into weekly or monthly instalments. Undoubtedly, this payment method is convenient for those on a tight budget who are unable to pay the full amount upfront.
This might also explain why BNPL services are gaining popularity in Singapore.
But the worrying this is this: about 27% of Singaporeans admitted to being financially worse off due to a BNPL mistake.
But is it all that bad?
Read on to find out the pros and cons of BNPL services.
A short excerpt:
If you have done any online shopping in Singapore, you might have noticed that some e-commerce merchants are offering you a new way to check out.
Apart from the traditional credit cards/debit cards and digital payment solutions that require you to pay the full amount upfront or the credit cards that offer instalment plans, we now have the Buy Now Pay Later (BNPL) payment option.
With BNPL, you can delay your payments and split them up into weekly or monthly instalments. Undoubtedly, this payment method is convenient for those on a tight budget who are unable to pay the full amount upfront.
This might also explain why BNPL services are gaining popularity in Singapore.
But the worrying this is this: about 27% of Singaporeans admitted to being financially worse off due to a BNPL mistake.
But is it all that bad?
Read on to find out the pros and cons of BNPL services.
