Buy Now Pay Later: New Trends in Online Shopping

Online Shopping

Buy now and pay later? Sounds surprising and out of the world isn’t it? Well, thanks to some innovative thought process on how payments can be made easy, we might soon be seeing the “Buy Now, Pay Later’’ concept gain much popularity. The Indian e-commerce market has seen an unprecedented spike in the last five years thanks largely to a growing smartphone base, access to faster Internet, and a myriad of offers and discounts by online shopping giants.

As per a report by ASSOCHAM, about 69 million people shopped online in the year 2016 and this figure is said to reach the 100 million mark by the end of 2017. While there are several factors that are positively affecting the e-commerce growth in the country, there is lesser focus on one thing that a shopper is most wary about—the payment process. Several studies conducted on online shopping have hinted at online payment process as one of the main concerns that is limiting the shopper from successfully completing an online purchase.


Many a shopper spends a good amount of time browsing through products, selecting, and adding them to the cart, but it is that last phase from cart to purchase, that has seen a lot of “cart abandonments’’ primarily so because of the payments issue.

What next… and what is the Solution?
While some buyers express doubt on the credibility of online payment process others complain on the amount of time it takes to complete the “check-out” process. A weak Internet connection plays a spoilsport as sometimes the payment transactions do not go through successfully leading to a purchase failure and even worse, an unpleasant shopping experience.

A few start-ups have taken it upon themselves to focus extensively on easing the payment process through innovative technologies. To cut through all of the payment related issues these start-ups have come up with a unique but a helpful solution—Buy Now, Pay Later! This unique solution has been a boon of sort for many shoppers who are either hesitant of registering their credit and debit card details online or are too pressed for time to go through the long and inadvertently delayed payment gateway process.


Cash-on-delivery (COD) is a breather of sorts for many online shoppers as they stood to benefit by paying cash after the delivery of the purchased product. But, buy stuff online pay later concept has taken this a step ahead and ensures that buyers need not even be bothered about payment during and after shopping!

Why the concept might be successful?
A host of factors are steadily contributing to a steadfast growth in the e-commerce market and a major pain point for both shoppers and e-commerce companies is the payment gateway or check-out process. The check-out process for various reasons is either delayed or is disrupted abruptly contributing to a higher failure rate at the purchase level.

The introduction of an innovative concept such as “Shop now, pay later” at a time when consumers are in need of an alternative payment solution is akin to fresh breath of air. The concept appeals especially to younger generation who are time constrained and desire a quick purchase process. It also appeals to other demographics that have a limitation on time, more so for working professionals and people on-the-go.


One of the main reasons the concept is being well accepted is that while a lot of research and thought has gone into making the online shopping a better experience, not much has been done on making the payment process hassle-free and more comfortable.

This has resulted in the relatively newer — buy now pay later online shopping concept, being embraced by many shoppers.

Online shopping is here to stay and as we witness newer trends companies will put thought and research into helping buyers go through as less hassles as possible when they shop online. While we have heard a lot about the use of web analytics, product recommendation engines and social media analytics, shop now and pay later concept is different and unique. It directly addresses a major pain point—the payment transaction process, and makes it much easier for buyers to shop.

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