Zip Pay and Zest Money

Meaning:

Example: 

For instance, purchasing a laptop using Zest  Money and repaying the amount in 3–6 instalments after the purchase exemplifies the  functionality of BNPL services. 

How to Understand Zero Balance Account :

1.Consider BNPL as a type of short-term credit; it allows you to receive the product now

and pay for it later, similar to a mini loan arrangement.

2.This service facilitates purchasing items even when immediate cash availability is limited.

Importance of Zero Balance Account :

1.BNPL services assist individuals in acquiring products even when they lack sufficient

funds upfront.

2.They offer flexible instalment options, making it easier to manage financial

commitments.

3.This service is particularly beneficial for online shopping and addressing urgent needs.

4.BNPL enhances financial accessibility for young consumers who may not have access to

traditional credit facilities.