How to Buy Now and Pay Later for Mobile Phones in Singapore? Apple iPhones | Samsung Phones

red white mobile buy now pay later

You’ve been waiting for the latest iPhone to come out and walk to the store the day it does. You see a huge line in front and go wait at the back of the line. After an hour, your turn arrives and the moment you reach the counter and ask for the phone’s price, you are shocked.

Dejected as you turn to walk out, the store manager rushes in to inform you that they’ve launched a ‘Buy Now, Pay Later’ scheme, wherein you can take the phone with you and pay in small, monthly/weekly installments.

When you hear the monthly/weekly installment price, a broad smile lights up your face and you distortedly see your dream getting realized as happy tears fill your eyes.

This happens RIGHT here at Red White Mobile.

Great news that makes your day.

Red White Mobile now offers Buy Now Pay Later with Latitude Pay.

The whole amount of any mobile phone in Singapore can be overwhelming but split it over time and it seems like no big deal.

How to Buy Now and Pay Later for Mobile Phones like Apple iPhone or Samsung Phones in Singapore?

With the ‘Buy Now, Pay Later’ scheme every customer can afford gadgets of their desire and the purchasing power of the entire country goes up. This arrangement is also referred to as “point of sale installment loans” and is usually interest-free.

Moreover, if it’s an online purchase it’s even easier. There are several ‘Pay Later’ options in Singapore like Hoolah, Grab, and Latitude Pay that have tied up with online stores to help you use the phone you always wanted and pay at your convenience.

So how do these apps work? Can anyone use them? What’s the catch?

Here, we will be telling you all that comes with a ‘Buy Now, Pay Later’ when buying a mobile phone in Singapore.

How does it work?

First things first: Not only mobile stores, online or offline may have this option. So, you need to do basic research of finding out which stores offer the ‘Buy Now, Pay Later’ option and purchase from them.

Red White Mobile in Singapore is one such store that accepts the pay later options on its mobile phones and offers interest-free rates and zero hidden charges with Latitude Pay.

While not every buy now pay later program is on the same level, there are certain features that you can pick and assume to be standard across all companies.

  1. Once you have selected the phone you like, you approach to pay at a partnered merchant like Red White Mobile and select the option of buy now, pay later. In an offline purchase at our shop, the help at the counter can always guide you with the process.
  2. After getting approval, you will be asked to make a payment upfront, usually 1/3rd of the total amount.
  3. The balance is then paid over predetermined due dates through interest-free installment payments.
  4. The payments will be deducted from your debit card, bank account, or credit card automatically on your instruction.

Buy Now Pay Later vs Credit Card in Singapore

Now you may ask how Buy Now, Pay Later is different from purchasing via a credit card or NETS?

Well, there is a distinguished difference between both repayment methods.

Credit Card Payment @ RWM

Buy Now Pay Later with Latitude Pay @RWM

  • Paying by credit card requires you to pay a minimum amount due on the card
  • Admin charged by merchants (usually 3%) or interest charged if the full amount is not paid
  • Amount can vary each month
  • No case of paying a minimum due
  • No interest, no hidden fee
  • Fixed payment schedule
  • Fixed amount to be paid and information on the due date is received well in advance
  • 7% percent admin charges

Buy Now Pay Later vs NETs in Singapore

NETs Payment @ RWM

Buy Now Pay Later with Latitude Pay @ RWM

  • Paying by NETS requires you to pay full amount due on the card
  • Admin charged by merchants (usually 1%)
  • No case of paying a minimum due
  • No interest, no hidden fee
  • Fixed payment schedule
  • Fixed amount to be paid and information on the due date is received well in advance
  • 7% percent admin charges

The scheme – Buy now pay later is only available for Singaporeans, Singapore PRs, Singapore Special Pass and Singapore Employment Pass with debit/credit card.

Why Buy now Pay later?

Modern problems require modern solutions and today’s affordability needs for modern consumers are solved by the Buy Now Pay Later business model.

Moreover, these key benefits are what make the Buy Now Pay Later model stand out from the rest:

  • Convenient and affordable way of purchasing
  • Most ‘Buy Now Pay Later’ merchants offer zero or comparatively lower interest as opposed to credit cards merchants
  • No need of a high credit score
  • Quick setup and quicker approval

Buy Now Pay Later on the rise in Singapore

The Buy Now Pay Later model is currently trending in the Singapore markets. In fact, a 52.6% growth is expected in the buy now pay later payments scaling up to US$773.9 million in 2022. It is also expected that the Buy Now Pay Later option will be adapted and grow gradually with a CAGR of 25.5% between 2022 and 2028.

This shows great potential for medium to long-term growth of the buy now pay later industry. This also proves how today’s consumers have slowly started accepting this model and will completely approve of it in the coming years. Maybe that’s why more and more companies have extended their offerings to interest-free installment payment options for online shoppers.

Since more than half of the world is on the internet, the eCommerce sector has seen a tremendous hike in the past two years. Especially due to the global pandemic more people in Singapore have preferred fulfilling their shopping needs online and thus, more have chosen the buy now pay later method. A trend that began during the pandemic has continued to grow even after the effects have subsided.

Since consumers have become accustomed to shopping from the convenience of their homes, they prefer eCommerce platforms over in-store shopping in most cases. The Buy Now Pay Later industry has grown remarkably with the rise of online shopping platforms, and several companies have adopted this model to facilitate and retain their customers.

After closely following such trends and noticing the strong growth of the market, the buy now pay later method holds across Asia, major banks are entering into strategic alliances with companies that offer this option to benefit from the overall trend.

Who are the Buy Now Pay Later providers in Singapore?

While there are several platforms that run this business model, a few top ones across Singapore and South-East Asia are:

  • Atome
  • OctiFi
  • Rely
  • Hoolah
  • LatitudePay (Red White Mobile’s preferred partner)

Latitude Pay

Latitude Pay is a branch of Latitude Financial Services, an Australian organization. In 2018, Latitude Financial Services joined hands with Genoapay and took over its Buy Now Pay Later product.

Teaming up with great brands to add to their shopping arsenal, Latitude Pay offers a wide range of shopping experiences with a convenient payment model.

latitude pay singapore

How does LP work?



  • Sign up for Latitude Pay with your ID and Credit/Debit Card details
  • Add your phone to the cart and look for Latitude Pay at the checkout
  • Get approved in real-time
  • Pay over 10 weekly payments and continue shopping
  • Sign up for Latitude Pay with your ID and Credit/Debit Card details
  • Ask to pay with Latitude Pay at the cash counter
  • Get the payment link on your registered phone number and follow the steps to pay
  • Get approved in real-time
  • Pay over 10 weekly payments and continue shopping


Which is the best Buy Now Pay Later company in Singapore?

While there are several companies that provide the Buy Now Pay Later service in Singapore and across Asia, a top few include:

  • Atome
  • Hoolah
  • Grab
  • Affirm
  • Latitude Pay

How does Buy Now Pay after 12 months work?

While this may be an option certain companies offer, not all Buy Now Pay Later platforms may offer to pay after 12 months. The basics of this model are to pay across 3-10 installments spread over 10 weeks or 2 months.

While some schemes will need you to pay in 30 days, some might allow you a period of 12 months too.

Checking the provider and their schemes is essential before you purchase anything through them.

Do you pay interest on Buy Now Pay Later?

While Buy Now Pay Later payments are usually interest-free if at all any interest is charged to you during your initial payment or across payments, it is credited back to your account as a lump sum once you’ve completed all the payments.

Why is Buy Now Pay Later so popular in Singapore?

The model of Buy Now Pay Later is popularly applied across purchases of goods. PayPal Credit, Afterpay and Klarna allow consumers to pay interest-free installments on a purchase over the course of several weeks.

According to a recent survey, 60% of people have said they used a Buy Now, Pay Later service. Of those, nearly half (46%) are currently making a payment or payments through one of those services.

Due to the global pandemic and the rise in online shopping, the Buy Now Pay Later service has been trending like never before. In another survey conducted, about 71% consumers admitted to making more online purchases than usual during the Covid-19 pandemic.

In fact, roughly two-thirds (67%) agreed“more than half” of their shopping needs were fulfilled online during the last year. This is the primary reason for Buy Now Pay Later services to site substantial growth.

Is it a good idea to Buy Now and Pay Later?

Often offered with zero percent interest, Buy now, Pay Later are quite easier to get approved than the regular credit cards or lines of credit. Normally, Buy Now Pay Later doesn’t affect your credit score. But defaulting on your payments or paying late can certainly damage your credit score.

Do banks offer a Buy Now Pay Later scheme?

After seeing the potential in the Buy Now Pay Later model, more and more banks are moving towards it, including traditional banks.

Standard Chartered Bank is one such reputed bank that announced a 10-year strategic alliance with one of Singapore’s leading buy now pay later platforms, Atome. The bank is among the first major banks to partner with a buy now pay later merchant company in Singapore.

What happens if you Buy Now but don’t Pay Later?

Buy Now Pay Later may seem like it’s making your life easier and it is but the model is also based on becoming expensive quite quickly if you don’t make your repayments on time. If you fail to clear your debt before the delayed period is up, some providers will ask for a settlement fee or a lump sum of interest over the debt owed.

Final Thoughts

While the Buy Now Pay Later method is a hit and quite enticing, it is our duty as shoppers to shop responsibly and not go on a spree, just because you can.

While we saw a dearth of goods during the pandemic, the way this model is planned also should be taken into consideration while shopping.

Shop only what you need and don’t be late on your payments.

This way, you can avail the full benefit of this scheme and the crop’s cream!