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What is Buy now pay later? 

What is Buy now pay later? 

What is this concept of Buy now and pay later, and how will it benefit you? We will explain the whole process through a real-world example.

Suppose you need to purchase a gold necklace . Let's assume that you find it in an online store. As the first step, go online to the store, find the gold necklace you want to purchase and choose it. Go ahead to purchase it and click on "buy now". In all online stores, the next step is to fill in your contact and shipping details.

Then comes the interesting part. How are you going to pay? You will be provided with multiple options that you can use. It is where you have to select this payment option. You can choose the "buy now, pay later" application and download it.

Downloading "buy now pay later" apps is a cakewalk as all of them are user-friendly. Let's talk about what you have to do post-downloading. Open the mobile app that you downloaded and start filling in the information. The process includes registering to the platform with your mobile number. Then you have to choose whether you want to see the notification from the application regularly or not. After that, you must enter the code you will get on your mobile and verify your account.

In the application, you should enter your personal information and card details. In most of these apps, it could be a debit card or a credit card. An important point you should note is that the information you enter should match your valid ID. It's mandatory to scan your valid ID to finalize the verification process. Facial verification is a part of this, and you can use your front camera.

The work is almost over. Then you have to confirm the payment. Here we go. Enjoy your purchase without any stress.

  •  Why should you use "buy now, pay later" apps?

Why should you use "buy now, pay later" apps?

Wouldn't you like it if you could pursue your interests and ambitions at your own pace and in your own way? With this facility, you can achieve that to a certain extent.

As mentioned above, creating an account in these apps is very easy. That is because these apps' creators make sure they are user-friendly. When the required information is submitted, and you proceed, your payments will be debited from whatever card you link to your account.

Your monthly expenditure can be easily monitored and managed in these apps through our mobile app's interface. It will ensure that you are not missing out on any important payments.

Let's talk about the business models of these applications. The merchant is subject to a nominal fee for each transaction that is processed via these apps. The amount of this fee is based on the goods or services that the retailer offers for sale. In general, the fee amount will increase proportionately with the total cost of the product or service.

  •  Basic requirements for using "buy now pay later" apps

When you are registering with these apps, there are certain requirements that you should full. Let's talk about these in general. The first requirement is that the buyer should be over 18 years.

The following will be expected of you:

1) A mobile phone number that begins with the (+65) prefix and is issued in Singapore

2) Legal full name

3) A NRIC or FIN number from Singapore

4) Date of birth

5) A valid email address

6) A credit card or debit card that has been issued by a bank or other financial organization

Why is this information important? The service providers do this to ensure they are identifying the right people and avoiding any kind of identity theft or fraud.

  •  Identifying information regarding users

To evaluate your application to become a client or user, they demand a photo of both the front and back of your NRIC when you sign up for their service.

  •  To prevent frauds

To deal with complaints; to prevent or investigate fraud, unlawful activity or omission, or misconduct, regardless of whether or not there is a suspicion of the activities above or omissions.

  •  Regulatory compliance

To fulfil the requirements of any applicable law, governmental or regulatory requirements of any applicable jurisdiction, the service providers must comply with these requirements.


Buy Now Pay Later is a payment service that enables clients to put off paying the total cost until a later date, as the name of the service suggests. Customers might not want to hold up on purchasing until they get paid again, and thanks to the Buy Now Pay Later, they can check out without making an immediate complete payment. Instead of making one large payment, customers typically pay for the item in several smaller ones spaced out over time.

Atome is an application that provides you with this facility and they believe that you should be able to pursue your interests and ambitions at your own pace and in your own way.

In Atome, you can create an account in a matter of minutes, and your payments will be debited from whatever card you link to your account. Your monthly expenditure can be easily monitored and managed through our mobile app's interface. You’ll never miss a payment again!