Buy Now Pay Later Comparison Guide

Buy Now Pay Later Comparison Guide 

The use of Buy Now Pay Later services in Singapore has grown and become a viable payment alternative. Here, we look into Relay, Atome, and Hoolah, three of the most popular options.

The term “Buy Now Pay Later” (BNPL) refers to a credit program in Singapore that enables customers to make prepayments for products and services. Since Hoolah debuted this kind of funding in 2017, it has been widely accessible throughout the nation. Because it allowed individuals to do more with less money, its popularity soared. Nearly 1.1 million people (40% of the population) in Singapore are 16 or older and have utilised the shop now pay later Singapore service. While some users claimed financial gains, others said they lost a lot of money because of the program.

A brief explanation of how Buy Now, Pay Later systems function

Breaking up a large purchase into manageable monthly instalments is nothing new. Credit card companies have been offering 0% interest payment plans for a long time, so this concept is not new. Credit cards have the drawback of requiring an additional, one-time processing charge that is usually calculated as a percentage of your total transaction. If you try to pay the balance off early or cancel the credit card you used to make the purchase, you will be subject to a penalty.

Non-bank Buy Now Pay Later Singapore providers such as Singtel Car Insurance, Grab PayLater, Atome, Hoolah, and Rely provide services similar to credit cards without the associated fees. The fact that there is no processing charge or penalty for prepayment is a major plus. Instead, they monetise by the imposition of a transaction charge on all commercial deals involving their partner companies. The partners, rather than the clients, are the ones who pay this cost.

However, you must be punctual with your payments. If you miss a payment to a BNPL provider, they will likely charge you a late fee or stop your service until the amount is paid in full. You should also know that most BNPL service providers can’t be added to your credit card for automatic billing. Make sure you are not breaching any of your credit card company’s restrictions by thoroughly reviewing the terms and conditions of your credit card before charging the transaction to it.

Mistakes often committed by those who utilise the Buy Now, Pay Later system

It’s important for customers to realise that BNPL services might help or hurt them, depending on how they use them. If utilised appropriately, they may reduce costs. Misusing BNPL services, however, might result in catastrophic losses. Here are some of the most typical user errors:

  • pay fines for being late
  • go beyond, leaving them unable to meet their basic necessities
  • Spend a lot of money on things they can’t afford
  • Spend money on a whim
  • Permit them to get overdrawn on their account.

While there are many advantages to using BNPL services, customers must exercise caution with their budgets to reap the full rewards.

Analysis of Rely, Atom, and Hoolah

It might be difficult to shop around and get the best deal if an online site just offers one Buy Now Pay Later option. However, it is helpful to know what you’re getting into if you’re on the fence about whether to take the leap and sign up for an instalment plan or pay the whole sum all at once.


Rely’s policy on late payments is quite nebulous. No explanation of the fees associated with late payments is provided, just advice that you should not miss payments. Contact Rely’s support team in advance of setting up a payment plan to confirm that there are no late fees associated with doing so.


Atome is among the most proactive BNPL suppliers in Singapore, having a strong online and offline presence. If you want to make a purchase at the shop, you’ll need to pull out your smartphone since you’ll have to use it to scan the QR code and make the payment. The Atome app gives you money off your purchases to encourage you to make more of them.

You should weigh the benefits of paying in full against any fees or reductions they may provide. If you are having problems making your payments because of a lack of funds, for instance, you may be subject to late fees of up to $30. In Singapore, Hoolah is the go-to service for “Buy Now, Pay Later,” and they have a wide variety of retail partners.

The process through which Hoolah handles late payments is unclear. This is due to the fact that it is unclear how often late payment fines will be assessed. Be careful you pay on time and in full to prevent any surprise fees.

In this match, Atome takes on Hoolah.

In Singapore, two of the most well-known Buy Now, Pay Later services are Atome and Hoolah. Although both parties accept payments over the course of three months, their policies on how to handle payments that are more than a month late vary.

The first late fee assessed by Atome is S$15, with an additional S$15 added if the remaining amount is not paid in the current month. The late payment policy of Hoolah is not entirely clear since it does not state how often late fees would be assessed.

Be careful to make your payments on time if you decide to commit to them. If, for whatever reason, you are unable to make your payments on time, you may be subject to late fees of up to S$30.

Make sure you check Hoolah’s website before making a purchase, since it often has coupons that are only redeemable at particular stores. Ultimately, it’s up to you to weigh your alternatives and choose on a course of action that makes the most sense for you.

Competing: Rely vs. Hoolah

For purchases at Rely totalling under S$99, you may take advantage of their interest-free financing option for three months. However, Hoolah is a popular Buy Now, Pay Later option in Singapore and has a wide variety of retail partners. However, as was previously indicated, Hoolah’s policy on late payments is not entirely transparent.


If you are wondering should I get a credit card Singapore, make BNPL your very last choice; if at all possible, save up for the items you really desire. In conclusion, BNPL services might be a great alternative if you’re searching for a fast and simple method to receive the products that you need without having to pay for them up front; just make sure that you fulfil the instalment payments.

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