PayLater

About PayLater

PayLater is a Qatari financial technology company founded in 2023 by Mohammed Al-Delaimi, Khalifa Saleh Al Haroon, and Hamad Al Hajri. It is the first entity to be licensed by the Qatar Central Bank (QCB) to provide Buy Now, Pay Later (BNPL) services in the country. The company successfully graduated from the QCB's regulatory sandbox program, where it tested its solutions before a full market launch.

The firm provides a Sharia-compliant, interest-free payment platform that allows consumers to purchase goods and services and split the cost into four equal installments over three months. This service is available for both online and in-store purchases and is free for customers, with no interest or hidden fees, provided payments are made on time. For merchants, PayLater's business model is based on transaction fees, offering partner businesses benefits such as increased average order values by up to 33% and repeat purchase rates of 40%. The company assumes all shopper-related risks, ensuring merchants receive their payments without delay.

PayLater has formed strategic partnerships, including a memorandum of understanding with Qatar Islamic Bank (QIB) and a strategic investment from LuLu Alternative Investments, the investment arm of LuLu Financial Holdings. These collaborations are intended to scale operations and integrate with established financial infrastructure. The platform has seen rapid adoption, reaching over 100,000 registered users and partnering with more than 150 merchants across 200 branches. Its mobile application ranked number one in the finance category on the Apple App Store in Qatar within a month of its launch, with a focus on both retail and essential daily expenses like groceries and fuel.