Top 15 Buy Now Pay Later (BNPL) Companies In India

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Top 15 Buy Now Pay Later (BNPL) Companies In India

There has been a fundamental change in consumer-business relations since the worldwide pandemic struck in 2009. During lockdowns and limits on mobility, digital adoption grew rapidly. Everything from food and household items to apparel is now available for purchase online. Consumer lending’s Buy Now Pay Later (BNPL) market grew as a consequence, as did online payments.

 In online shopping, Buy Now Pay Later ( BNPL) apps focuses on short microcredit alternatives that allow customers to make purchases and pay for them over a short period, usually days or weeks. BNPL possibilities may now be available on food delivery, travel booking, groceries and other necessities delivery platforms, starting with e-commerce marketplaces.

 According to consulting company RedSeer, India’s BNPL industry is currently projected at $3-3.5 billion but may increase to $45-50 billion by 2026. 

Let’s look at India’s Most Promising Buy Now Pay Later (BNPL) Companies for 2022.

UNI Cards

Users of the Pay 1/3rd Card app, or UNI cards, may divide their purchases into three payments for three months without incurring any additional fees.

One per cent payback is offered if the total sum is paid in one go within a month. Physical and virtual UNI cards are available for use both online and off. UNI is waiving all expenses for new subscribers for a short time, including yearly fees.

 There have been 12,000 clients and 80,000 downloads of the BNPL app since its beta debut in June 2021.


 Fintech company Slice gives credit to people with no previous, immaculate credit history without any worry. One of India’s best credit card challengers, this BNPL app lets you pay your bills, monitor your finances, and earn rewards. Approximately 7 million people have signed up for Slice thus far.

There are no yearly fees or hidden costs with Slice’s BNPL card. It also has the option to divide the amount into three instalments and pay it off in three months, with no interest or additional fees.

 Additionally to that, Slice gives you up to 2% cashback for every purchase.




Bharat is the parent business of PostPe, which is a BNPL platform. The PostPe app is free to use and can be found on the Google Play Store. With PAN and Aadhar card verification, consumers are given spending limitations depending on their credit ratings.

 A credit limit of up to 10Lakh is available on the site, which is interest-free for macro and micro-purchases. QR payments, card-swiping, or any online payment method may be used to access the BNPL.

 There’s a separate dashboard for keeping tabs on everything from purchases to credit limitations. There are cashbacks and customized cards available via PostPe.

Freo Pay

Freo Pay allows users to purchase now and pay later with a credit limit of Rs.6000. It is possible to pay for goods and services by scanning any QR code in a shop. Customers like the ease of paying down their balances with no interest after 30 days. Customers utilize the app in more than 1200 cities throughout India for their daily shopping requirements.

An Indian digital credit card called Aspire Aspire. Those self-employed or who have a modest income may use Aspire’s fair and transparent financial services. Users who don’t qualify for a standard bank credit card are their primary focus.


 The BNPL firm Flexmoney operates as a full online credit network that provides lenders and merchants with the ability to offer seamless payment options. Customers may choose between full payment and EMIs using LazyPay, as well as secure checkout funding. This system, on the other hand, does not provide funding from its own resources. It’s a simple way for lenders to interact with online merchants and gain access to the BNPL market.


Simpl and ZestMoney features are combined in LazyPay. Customers may purchase online with just a single touch and pay their bills in 15-day instalments or equivalent monthly payments, whichever they want (EMIs). In addition, the startup offers loans of up to $1,300. (INR 100,000). In India, LazyPay may be found on more than 250 different websites. The platform provides paperless credit disbursement and minimum paperwork.

 PayU Finance, a subsidiary of PayU, a digital payments business owned by Naspers, manages the LazyPay brand. At the end of 2020, LazyPay will have 2 million active users. On top of all that, the platform has handled more than 10 million transactions and given out more than $67,000,000.

 While making purchases with LazyPay, customers may also receive attractive perks and cashbacks. Additionally, it provides personal loans ranging from 10,000 to up to 1 lakh, with repayment terms of 3-24 months and interest rates ranging from 15% to 32%. Additional fees are imposed by LazyPay, which charges a 2% processing fee.


 As of 2015, Simpl has become a key player in India’s BNPL market. Instant account approval and the ability to pay for online goods with a single touch are among the startup’s mobile-first platform features. The Simpl account is used to combine all online expenditures, and the amount must be paid in full every 15 days. Payment failures may result in penalties, even if the company does not charge interest.

 More than 4,500 retailers throughout India have collaborated with Simpl, which claims to have more than 7 million users.


A BNPL platform called ZestMoney enables customers to get credit in only three steps, all without the need for documentation or a credit card. With no interest, it allows you to pay in one lump sum and spread out your payments over a longer period of time.

 ZestMoney was founded in 2016 and is one of India’s fastest-growing fintech. Customers may buy online and pay for their purchases in instalments using the company’s unique service. Mobile technology, digital banking, and artificial intelligence (AI) are used by the startup’s platform to help consumers who are unable to secure loans for consumer goods via conventional channels.

 ZestMoney, on the other hand, is unique among consumer financing platforms because of its connections with online retailers. Purchases like furniture or plane tickets, which are normally not covered by standard loan systems, may be paid for using ZestMoney. In addition, ZestMoney provides up to six months of interest-free payment options with certain merchants.

 There are over 11 million people using ZestMoney, which is accepted at more than 10,000 online retailers and 75,000 brick-and-mortar locations throughout India.



To pay bills, make purchases, and buy train tickets, you may use the money in your MobiKwik ZIP wallet to transfer it to a bank account. Within a billing cycle, subscribers may get a credit of up to INR 30,000 at no interest. The corporation is permitted to impose interest on the credit limit if the billing cycle is exceeded. Twenty-one days is the billing period. There isn’t a way to break up the debt into manageable monthly payments like EMIs.


ePay Later


A credit line of up to INR 25 lakh is available to self-employed persons and more specifically, to businessmen, who may use it to make purchases for a period of 14 days without incurring any interest. When you use this credit limit, the app rewards you with bonus points. In other words, it’s a percentage of the money spent. This may also be used to earn reward points by those who don’t require the credit. People who fail to make their payments to the corporation face a simple penalty. Every month, the defaulted payment is penalized by a flat 3% penalty. They’ve teamed up with some of India’s most prominent wholesalers.



Over 250,000 retail establishments are supported by this software, including both online and brick-and-mortar stores. As of right now, there is no charge for processing. The company’s maximum monthly payment is INR 10,000. The billing cycle lasts one month, and as a result, the spent money must be reimbursed within that month’s billing cycle, which begins on the fifth of each month. During this time, no interest will be charged on this sum.

Amazon Pay Later


Amazon established its Pay Later option in 2020 in response to the rising need for consumer finance in the wake of the epidemic. Consumers in India may use Amazon Pay Later to buy a wide range of items from the Amazon India website and mobile app. However, Amazon Pay Later is currently only available on mobile devices. Interest-free financing is available for 15 days, and users may choose to pay it back in full or spread it over three to 12 months with interest.

Since its introduction, Amazon Pay Later claims to have processed more than 10 million transactions with a 99.9 per cent success rate. Instant credit of up to US$1,300 (INR20,000) may be extended by updating customer information on Amazon Pay Later.



Capital Float

 It is possible to apply for a loan from the comfort of your own home using Capital Float’s online platform. They are informed of the outcome in a matter of minutes. They’re even provided with several repayment options to choose from. As little as seven days later, the money will be deposited into their bank accounts.

Instant PayLater by ICICI


PayLater is ICICI Bank’s BNPL service. Shop online, pay bills, reload prepaid, and even scan & pay at a store all at the same time with the assistance of this app. The payback period is 45 days, during which time there is no interest. After that, the user’s ICICI Bank Savings Account will be automatically deducted from the PayLater fees. The sheer number of participants in the BNPL market is proof that the market is expanding fast.



Kreditbee is an instant personal loan platform for self- employed and salaried professionals. With pan card and correct bank details you can easily get a loan of 1000 to 2 lakh rupees. They offers loan in varying ticket size and repayment tenures.


Things to Consider Before Opting for Buy Now Pay Later Apps

 There is no interest in EMIs for the first few months, but a small fee will be imposed for failure to make timely payments. Defaulting these EMI payments might damage a borrower’s credit score.

 A stronger credit score is required for a higher credit limit. However, corporations often grant credit limits to those with less-than-ideal credit histories. Your credit limit is gradually increased as you use it more.

 Even if you’ve previously failed on your loan and/or credit card payments, BNPL may help you get back on track by allowing you to pay your EMIs on time, which can boost your credit rating.

 However, if you fail to make your monthly instalments, you will be charged an interest rate that is often higher than that of a personal loan. These firms do not charge an annual fee, and only a handful need a cost to join.

Should you Offer Buy Now Pay Later Option on your D2C Store?

BNPL apps gives the ability to users to buy without going into too much hassle of entering OTP or anything else. Especially after recent RBI Tokenization rules it becomes difficult to see plastic money transactions going smoothly.

BNPL apps allow users to use their microcredit facility to buy or transact online. Essentially, they deliver one click checkout experience which improves checkout rate for any D2C Brand.

You should consider following reasons to choose BNPL apps for your business:

       ●     Easy checkout option

      Additional discounts offered by BNPL apps

      Alternate payment option

      Cross branding & cross promotion



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