BNPL stands for “Buy Now Pay Later” which is a financial service that allows consumers to purchase goods or services and defer the payment for a later time. Instead of paying the full amount upfront, customers can opt to pay in installments over a set period, typically ranging from a few weeks to several months.
BNPL services are usually provided by third-party providers, who partner with retailers to offer this payment option at checkout. The popularity of BNPL services has increased in recent years, especially among younger consumers who prefer flexibility and convenience when making purchases.
However, it’s important to note that BNPL services can also come with risks such as accumulating debt, missed payments, and additional fees.
BNPL IN TAGUM CITY
Many retailers and online merchants in Tagum City are now offering BNPL services, allowing customers to make purchases and pay for them in a way that suits their budget and financial situation.
The most common BNPL service provider are:
- BDO Unibank
- Bank of Commerce
- Bank of the Philippine Islands (BPI)
- Steezy Gadget Hub through BillEase