These five apps are examples of a new idea that is sweeping the internet. Replacing payday loans from many years ago, these apps are technically lending you money, allowing you to pay at a later date. As long as you pay back the loan on time, you usually don’t have to pay any fees.

Included here are brief descriptions about which apps are better and why:


This app allows you to split the cost of a purchase over a set amount of monthly payments. Provide a few key pieces of information and the app will return a real-time decision if you are approved or not.

When you are ready to purchase something, enter in your app how much money the item is. Affirm will issue you a virtual card to use once you are approved. Use this card to make your purchase and pay back your loan over the term you selected: three, six or 12 months.

For some people, a credit check and down payment might be conditions of your loan. Purchases under $100 (approximately ₹6,979 depending on the currency exchange rate) have limited payment options available. Interest rates at Affirm generally range from 10 to 30 percent, based on your credit.


This might be a great option for people who cannot afford a down payment. With some apps, the amount of money you owe is spread across many months, with the first payment due at checkout. With ePayLater customers can get access to an instant credit limit to make faster purchases, that too without having to pay at the same time. You can shop now and pay later with ePayLater, interest-free, for up to 14 days.

This service will decide on a credit line for you when you sign-up and have your credit checked. You can enjoy up to $281 (approximately ₹20,000) without any fees or interest charges, assuming you pay it back within the two-week period.


This company allows you to buy now and pay later through stores that are connected to the Afterpay service. They will split your purchase into four payments, each payment due every other week, with the first payment required at the time of purchase.

You won’t be charged any fees or interest if payments are made on time. Being limited to stores that specifically work with Afterpay isn’t too convenient and neither is their rigid payment schedule.

ePayLater also provides you with discount vouchers based on timely delivery of repayments. Combined with secure payments and a quick checkout process, this service might be the right fit for you.


Targeted to business owners, you will be given the option of offering your customers to buy now and pay later, without a credit card. Putting purchases on a FuturePay tab lets you check out in one easy step.

Customers will select FuturePay as their payment method when checking out. Your customers will only deal with FuturePay when settling their balance. Flexible monthly payments are offered for added convenience. FuturePay pays you upfront, regardless of how long it takes customers to pay back the loan.


This app gives you an extra feature that seems interesting. You can receive short-term loans the same way as many of these other services. Pay back on time to avoid interest fees and late charges.

You can also invest money for the possibility to earn high interest rates. Users can choose to invest in PayVest, Paylater’s high-interest investment plan. The company claims you can earn up 15.5 percent in interest.


These apps can provide a great service. If you are in a jam and need quick cash, you have many options. Be sure to pick the company that has the repayment options that works best for you. Never borrow more money than you can afford to pay back and never make a late or partial payment to avoid expensive fees.