Buy now pay later also known as BNPL is a financing option that allows you to buy a product or service without having to worry about paying for it in one go and instead financing it over the subsequent weeks and months. Due to the rise of e-commerce and digital payments, low credit card penetration, and rapid increase in the adoption of FinTech, many of whom are disrupting traditional financial services, business models. The market for BNPL businesses is booming in India. The BNPL offers an alternative way of consuming goods and services via the ease of credit. And it’s fast becoming the preferred purchase method among gen Z consumers and young millennial.
In today’s episode of Inside India, Ben Hayward is joined by Lizzie Chapman, CEO and Co-Founder of ZestMoney. ZestMoney is India’s largest and fastest growing buy now pay later platform and uses mobile technology, digital banking, and AI to make life more affordable than millions of young Indian consumers. Lizzie has continuously been promoting the concept of digital finance and driving its adoption in India. She envisions a feature where India has a fully digital economy and every Indian has access to affordable credit, her passion for the potential of technology to disrupt the delivery of financial services to me encapsulates the new India.