EMI CARD is a payment instrument used to convert all your purchases into easy EMI’s.
EMI cards are becoming an increasingly popular way of making purchases nowadays. Using the concept of Equated Monthly Instalments, EMI cards make the process of borrowing in order to fund a purchase smoother and seamless.
The way it functions is this: it comes with a pre-approved loan amount, and can be used to make purchases both online and offline. The payment of the full amount can be done through instalments.
Buy Now Pay Later or BNPL, as it is popularly known, is a financing option which allows you to buy a product or avail a service without having to worry about paying for it immediately. It’s simply a short-term loan product where the BNPL lender pays the merchant or service provider at the point-of-sale and allows you to repay the loan at a future date with little or no interest charges. The repayment can either be in lump sum or in the form of equated monthly instalments (EMIs).
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