buy now pay later: Amazon vs Flipkart vs Paytm vs Freecharge vs Lazypay: Check penalty charges for Buy Now, Pay Later schemes

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Buy Now, Pay Later or BNPL schemes have been all the rage during this festive season. Many banks, retails and e-commerce websites launched BNPL schemes to entice shoppers. The BNPL is a financing option that allows shoppers to make purchases and pay for them at a future date with an interest-free period.

When opting for such schemes as always shoppers should be careful about the ‘hidden’ charges and other fees associated with these schemes. Although these BNPL schemes do not have processing fees, they do charge a penalty amount for defaults or missing repayments.

Here is a comparison of the late payment fees charged by five big e-commerce companies – Amazon, Flipkart,

, LazyPay and RazorPay. These are the charges as per the companies’ websites.

Amazon Pay Later

If you miss a payment by the deadline and if dues are not paid by the 5th of the month, the lender reserves the right to apply late fees as shown in the table below:


Flipkart Pay Later

The late payment penalty is imposed based on the amount owed as of the 5th of the month. The following is the penalty structure:


Paytm Postpaid

Users of Paytm Postpaid must settle the outstanding balance by the Due Date. If the outstanding balance is not paid by the Due Date, late fees will be assessed.





According to Freecharge, a late fee of Rs. 10 per day will be charged if Freecharge Pay Later dues are not repaid on the Due Date, which is the 5th of the month.


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