Dubai: Not just for shopping, UAE consumers could soon pay off their medical or education bills in monthly instalments… at zero interest. If they do, it could mean savings in the thousands of dirhams each year – and these days, each saved dirham counts.
Yes, the ‘Buy Now Pay Later’ could soon show up quite forcefully in helping clear off those bills too. It was last year that the payment option emerged as a viable option for UAE consumers to pick up goods on credit… and not have to worry about the credit card charges.
A handful of BNPL platforms/apps rushed to fill the market need and at a time when shoppers were being extremely careful with their spend patterns following the COVID-19 outbreak and the resultant hit on the economy and jobs.