Deferred Payment Facility- A Mechanism to Ease Purchase Decisions

Abstract

The COVID-19 epidemic has some beneficial effects. In the contemporary financial technology-based era, deferred payment is the latest feature of consumer purchase behavior. This study aims to better understand the variables that lead customers in Lucknow to use this facility to transact and buy goods and services. The majority of the study's core data came from 200 respondents has selected using a purposive sampling approach. Descriptive analysis has used to explore the variables driving customers to choose the purchase now-pay later form of payment. The analysis' conclusions show that the amount spent yearly on products acquired through this mechanism is greatly influenced by education, an increase in consumer demand for goods, and a rise in the level of life for people who use it.. The rises in spending also indicates the customers' purchasing choices. The study's findings imply that improving financial inclusion, reducing interbank diversity in payment methods, increasing information availability and accessibility, and making later payment options available in retail establishments and other places can all contribute to better outcomes.