Introduction to Buy Now, Pay Later (BNPL) and How it Works

Buy Now, Pay Later (BNPL) is a flexible payment solution that allows customers to purchase products immediately and spread the cost over time, typically in instalments. Instead of paying the full amount upfront, customers make a down payment of a minimum of 30% and then pay the balance over an agreed period, based on their credit profile and eligibility.

At Veend, BNPL is designed to make tech products and other selected products more accessible while helping merchants drive growth through flexible, customer-friendly financing.

The process begins when a customer selects a product on the Vida online marketplace or at a participating physical store and chooses the BNPL payment option powered by Veend. Rather than paying the full price upfront, the customer is only required to make an initial down payment of at least 30%. 

The remaining payment of the product cost is then spread over a specified period, with instalment options tailored to suit the customer's financial capacity. This approach ensures that payments are manageable, and customers are more likely to meet their repayment obligations without financial strain.

To get started, visit https://app.mycreditprofile.me/