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Unless you’ve been living under a rock, you’ve probably heard about Buy Now Pay Later 😉 

It’s easy to see why Buy Now Pay Later is so popular – this lets you split your payments, and makes your shopping more affordable. 

In this article, we discuss all you need to know about Buy Now Pay Later in Singapore, including:

Read on to find out more!

First things first – let's talk about what Buy Now Pay Later is. 

Basically, these are apps or platforms that let you buy an item, and split your payments into a few instalments. 

Now, you might be wondering... so what’s the difference between BNPL and credit card instalment plans?

The biggest difference is that credit card instalment plans are offered by credit card companies, and while they say 0% interest, you typically need to pay a processing fee of 1.5% to 5% (meaning, it’s not really interest-free). 

As compared to this, BNPL are offered by BNPL companies (not credit card companies), and they do really come with 0% interest.

How do BNPL companies earn money, then?

Simple – they charge the partner merchants transaction fees, instead of the consumer. 

For the average consumer, BNPL would probably be more attractive as compared to using an instalment plan.

There are several Buy Now Pay Later options in Singapore, including:

How do you choose which app or platform to use?

Most people look at the payment period. 

Here, most BNPL apps allow you to split your purchase into 3 or 4 payments... EXCEPT Singtel PayLater, which lets you split your purchase over 12 months, 24 months, or 36 months.

As you can tell, this means that your monthly repayment is a lot more affordable with Singtel.

You can use Singtel PayLater on all the mobile phones, devices & gadgets that Singtel sells online.

For mobile phones:  

If you want to upgrade to the latest iPhone or Samsung phone but find it expensive, you can split your payment using Singtel PayLater. 

Say the phone that you're eyeing costs $1,500 per month. This works out to $41.67/month if you split the payment over 36 months.

Click the links below to shop phones with PayLater:

For devices & gadgets:

You can also buy other appliances and devices with Singtel PayLater. This includes:

Firstly, make sure you’re eligible. Singtel PayLater is available for Singtel customers who: 

If you fulfill these conditions, you can go ahead and buy your items using PayLater, and the monthly payment will be tagged onto your existing bill.

What if you’re not an existing customer? 

Then you’ll need to sign up for a Singtel service in order to use PayLater.

Here’s a quick summary:

More details on checking out your cart: 

When you look at any product listing (where the product is available to purchase with PayLater), you’ll be able to select the “payment term” from the page.

Then just follow through from there, and make your purchase!

Buy Now Pay Later is becoming increasingly popular today – and we can see why.

It can give you more breathing room, and make your purchases more affordable.

So go ahead and start shopping now!