With the advancements in technology in the discourse of the digital era, people are keen to discover new methods which make it easier for them to make their digital payments. The market has constantly been evolving and so do the features pertaining to the recharges done online. When it comes to DTH recharges, such as a Videocon d2h recharge, there are many apps out in the market which cater to the needs of the people, providing them with multiple options for bill payments, and BNPL is one of the most popular among them.
The growing trends for BNPL facilities have paved the way for many companies like MobiKwik to leverage this opportunity for a wide customer base with no or less credit history. The studies show that the BNPL facilities are largely popular amongst Gen Z or people who have just started earning. This is because they generally have fewer earnings and are sometimes not eligible for credit card payments. So it becomes easier for them to do transactions with a Pay Later app.
Advantages you get with BNPL recharge facility
When you are stuck in a situation where you don’t have cash, the BNPL payment option makes it easier for you to make your payments without any hassles. Let’s look at some of the advantages people receive who use this:
1. Ease with Cash
The BNPL option gives the ability to users to make numerous payments in situations like cash shortages.
For example, if you’re doing a videocon d2h recharge and you don’t have money in your account, you can simply opt for a Pay Later app like MobiKwik to make the payment conveniently.
2. Avoiding debt
These BNPL apps should be used when you don’t wish to pile up loads of debt. The younger generation, which is the core consumer base, wishes to have a clean debt or credit history when it comes to DTH recharges. Instead of making payments every month, they prefer to avail the benefits of the Buy Now Pay Later service.
For a person who has just started to earn, these small payments now and then may add up to a huge amount, and this isn’t a viable choice for many. However, pay Later apps provide instant settlement to make payments easier without a load of debts.
3. Managing Purchases and payments
Management of payments has become difficult since the pandemic is on the rise. Many people have either lost their jobs due to the pandemic or their incomes have been comparatively lower. Payments are high, and incomes have shrunk, due to which people’s economic strata have been negatively impacted. To have a feasible payment option, people go with a pay later app and manage these funds through an instant payment facility without any inconvenience and ease of making the payment later within 30 or 45 days of the period.
4. Offers and Discounts
People nowadays aren’t just preferring good credit history, but they are also keen to get benefits from offers and schemes. If you are one of those people who wish to settle their payments instantly along with availing of discounts, then BNPL apps are the best choice for you to do a variety of recharges in hand, including a Videocon d2h recharge.
Changes in Consumer Trends
Considering a DTH recharge, people have shifted from going over shops to using digital payment apps to finally opting for the BNPL apps. This is because, firstly, it is one of the most feasible options available in the market, and secondly, it stands as one of the best alternatives to credit cards.
What’s the future?
People nowadays have become more conscious about their credit scores. Imagine you are making huge purchases and you don’t wish to take loans, so the BNPL facilities serve as a good option to make our payments on time. Without any hassles of making payments via increasing your debts or credits, BNPL facilitates you with many features like interest-free repayment options, which aren’t only successful in attracting the new generations and have maintained a 25 million strong consumer base in the Indian Market.
Conclusion
It depends on the situation or economic status of a person if he wishes to use the BNPL facility or not for whatever transaction like food orders, groceries or make payment of bills etc. But, sometimes, even if they don’t have a cash crunch, they opt for BNPL. This proves that BNPL apps have emerged and have gained trust immensely in the market.
