What Is Buy Now, Pay Later and Is It the Credit Card Killer?

Having a limited budget has been a timeless constraint for many and the digital shift has just right the way of tackling it: Buy Now, Pay Later (commonly referred to by its acronym BNPL).

AloGatewayis a Global payment processing service and solutions provider able to cater to a multitude of clients ranging from small family-owned businesses to large corporations.

As of now, even good old brick-and-mortar shops have shifted into these models which allow their customers to pay over time.

BNPL is expected to see a meteoric rise in the years to follow following Apple, giants like Amazon, Google, Mastercard, Visa, and PayPal have thrown their hats into the ring.

What Is Buy Now, Pay Later?

To put it simply, BNPL is considered a short-term method of financing customers who wish to purchase goods or services and pay for them later.

It works much like a point-of-sale micro-loan that can be offered online and offline.