Скачать или смотреть How BNPL is Trapping Young Indians | LazyPay, Simpl, ZestMoney Truth

A friend told me, "Bhai iPhone le le!" I said, "Paise nahi hain!" He replied, "Toh Buy Now Pay Later se le le, maine bhi Simpl se liya, ekdum perfect hai!" But perfect toh bas naam ka tha. In India, Buy Now Pay Later, or BNPL, sounds like a cool trick – shop now, pay later, no EMI, no paperwork. Apps like LazyPay, Simpl, ZestMoney, and Amazon Pay Later make it super easy to buy anything online – from phones to clothes – without needing a credit card. It feels like magic, especially for Gen Z and millennials who want instant shopping without thinking about the money part. But this is where the real BNPL loan trap begins.

People think BNPL is just a shopping hack or a way to avoid credit card bills, but in reality, it’s a short-term loan. The problem? Many don't realise how the debt starts building quietly. Most BNPL users in India are between the age of 24 to 35. That means Gen Z and young millennials are the biggest targets. And here’s a crazy stat – 90% of users said they ended up spending more than they planned because of BNPL. Some even reported a 30–50% increase in their monthly expenses. It feels like free money, but it’s not. Late fees, hidden charges, and missed payments are where these apps make money.

By 2026, the BNPL market in India is expected to reach ₹3.3 lakh crore. That’s ₹3,30,000,00,00,000! Around 14% of all e-commerce transactions will happen through BNPL. Sounds big, right? But also scary. The 60-day delinquency rate for BNPL loans is around 19%, which is almost double compared to other credit products. That means many people are not able to repay on time. BNPL fraud and scams are becoming more common because people think there’s no risk. But late fees and missed payments can seriously damage your credit score in India.

RBI has already noticed this issue. In 2022, they stopped some BNPL apps from offering credit lines through prepaid wallets. They are now working on proper BNPL regulations to control how these digital loans are given to users. Because right now, anyone can get approved in minutes, even without any real credit history. This is risky, especially for people who don’t understand how loans work.

So yes, EMI without credit card sounds tempting. BNPL vs credit card feels like a win for BNPL in the short term. But in the long run, a credit card is safer if you’re eligible. At least you know the terms. BNPL is convenient, but it also brings financial stress. People start using it for random things – from food delivery to gadgets – thinking it’s just another smart shopping trick. But slowly, it becomes a monthly headache.

Many people on social media are sharing their BNPL experiences – how they got into the loan trap, missed payments, and ended up with a lower credit score. BNPL ka asli sach yeh hai ki yeh free paisa nahi hai. It's a debt system wrapped in a shiny fintech package. Gen Z is getting trapped because no one taught them personal finance basics. BNPL might look like an easy shortcut, but if not used wisely, it becomes a regret later.

So if you’re thinking of using BNPL for your next iPhone, laptop, or even food delivery – stop and ask: do I really need it? Or am I falling into a silent EMI trap? Because Buy Now Pay Later can quickly become Buy Now Regret Later. Use it smartly, understand the risks, and don’t get fooled by fintech jargon or zero EMI ads. Be alert, be aware – and think before you swipe.