Hamrobazaar Launches 'Buy Now, Pay Later' Feature in Collaboration with Foneloan
Hamrobazaar, Nepal’s largest online marketplace, has launched its new "Buy Now, Pay Later" (BNPL) feature, called HamroBNPL, in collaboration with Foneloan, the country’s leading digital lending platform. This feature allows eligible Foneloan users to purchase products on foneloan.hamrobazaar.com and pay for them through convenient equal monthly installments (EMI), enhancing the shopping experience by making it more budget-friendly and accessible.
Users from Kumari Bank Ltd., Nepal Investment Mega Bank Ltd., Laxmi Sunrise Bank Ltd., and Agricultural Development Bank Ltd. can access HamroBNPL through their respective mobile banking apps. The initiative provides two EMI options:
Interest-Free EMI for up to 6 months, allowing customers to make payments without any additional interest. Standard EMI for 9-12 months, offering flexibility with longer repayment terms, still without requiring any upfront down payment.
Customers can browse over 250 products on the HamroBNPL section of Hamrobazaar.com, select their desired item, and proceed with the purchase by logging into their mobile banking app. From there, they can scan a QR code displayed on the website and follow the instructions to complete their order with the installment option.
Speaking at the launch, Sagar Sharma, the CEO of Foneloan, highlighted that HamroBNPL goes beyond being just a payment option, describing it as a "game-changer" in the Nepali e-commerce landscape. By partnering with Hamrobazaar, Foneloan aims to provide financial flexibility to users, allowing them to make significant purchases without the immediate financial strain of full upfront payments. Sharma also emphasized that this initiative aligns with Foneloan’s broader mission of making finance more accessible and inclusive through innovative technological solutions for both individuals and businesses.
Foneloan is Nepal’s leading digital lending platform, offering instant, collateral-free loans to eligible customers in partnership with various banks. Known for its convenience, Foneloan focuses on creating innovative financial solutions that benefit both users and financial institutions.
Hamrobazaar is Nepal’s largest and most trusted online marketplace, offering a wide variety of products across multiple categories. Committed to providing a high-quality shopping experience, Hamrobazaar is known for delivering trusted products and exceptional customer service. Through HamroBNPL, it aims to further improve the shopping experience by making it more affordable and accessible for all customers.
Buy Now Pay Later:
