Buy Now, Pay Later (BNPL) lets you buy a product or service today and pay for it over time in installments. With Foneloan BNPL, eligible customers use their available financing limit at participating partner merchants and repay through an EMI plan. A one-time code called PayKey connects your banking app to the merchant's checkout.
Before you start
You need to be eligible for Foneloan BNPL. If you see the Foneloan banner in your partner bank's mobile banking app, you're good to go. If not, our guide on loan limits and eligibility explains how to qualify.
The merchant needs to be a participating Foneloan partner that offers Buy Now, Pay Later at checkout.
Keep your registered mobile number handy. You'll receive an OTP on it to confirm your purchase.
Paying with BNPL
Suppose you want to buy a product worth NPR 30,000. Instead of paying the full amount upfront, you can choose BNPL at checkout, pick an EMI plan, and repay in installments. Here's how.
Shop with a partner merchant. Select an eligible product or service and choose Buy Now, Pay Later as your payment method at checkout.
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Open your banking app and tap Foneloan. Open your partner bank's mobile banking app, find the Foneloan banner and tap it to open your Foneloan dashboard.
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Generate your PayKey. From the dashboard, generate your PayKey. It is valid for one hour from the moment it's created.
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Enter your PayKey at checkout. Go back to the merchant's checkout page and enter the PayKey when asked. Once it's accepted, select your preferred EMI plan and tap Verify.
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Verify with an OTP. Foneloan sends a one-time password (OTP) to your registered mobile number. Enter it to authorize the purchase.
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Your purchase is confirmed. Once the transaction is verified, you're done. You'll repay the amount in installments according to the EMI plan you selected.
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In short: Shop → Generate your PayKey → Enter the code → Choose your EMI plan → Verify with OTP → Complete your purchase.
What is PayKey?
PayKey is a one-time, single-use code that lets eligible Foneloan customers use their BNPL financing at participating merchants. You generate it inside your bank's mobile banking app, so you don't need a separate BNPL app or account, and you don't enter any financial information at the merchant's checkout.
A PayKey is not a password or an account number. It is created for one purchase, stays valid for one hour, and can't be used again once it has been used or has expired.
Good to know
Generate a new PayKey for every BNPL purchase.
If your PayKey expires before you finish checking out, simply generate a new one from the Foneloan dashboard.
BNPL is available to customers who are eligible at the time of purchase, so your eligibility reflects your current financing limit.
Every purchase must be verified with an OTP, which helps make sure the purchase is authorized by you.
What's coming next
PayKey is how you use BNPL at participating merchants today. We're also bringing QR payments to BNPL, for both online checkout and in-store purchases, so you'll have more ways to pay. We'll update this guide when QR is available.
That's it. Happy shopping!