The BNPL scheme is getting popular
India’s top e-commerce companies are not only offering massive discounts to attract customers and increase revenue, but e-commerce and digital service providers are also starting to sell goods and services. services to their customers in the form of credit.
In this context, all the major e-commerce companies are expanding their BNPL systems on a large scale, that’s why the year-end holiday sale will start in India in the coming days. next week. What is the BNPL project?
E-commerce companies
Many companies, including Flipkart, the country’s leading e-commerce company, Amazon, BDM and online education provider Baijus, have set themselves targets. Win more customers and businesses through this holiday BuyNowPayLater (BNPL) program.
Holiday Commerce
E-commerce companies decided to expand their BuyNowPayLater (BNPL) program to take commerce measurement to the next level this year, as merchants electronics India has seen record growth of their operations during the holiday season after completing the first halo wave.
Online Shopping Websites
Online shopping websites are the only safe way for people to shop in this halo era, but millions of people are unable to make purchases due to lack of credit cards. The BuyNowPayLater Program (BNPL) is the one that has bridged the gap.
Online Financial Services Companies
Under this program, online and e-commerce service providers allow customers to purchase the items they need with a credit card without the need for a credit card. It has also become a popular choice for people as it offers interest-free loans for most items.
Financial risk
E-commerce companies receive financing for the assets of their financial services company. The risks associated with this activity are accepted by Just Money, Simply, Lacey, Pine Labs, Capital Plot Phone Digital Financial Financial Services
BuyNowPayLater (BNPL) Plan
The BuyNowPayLater (BNPL) program not only provides e-commerce customers and the ‘access to businesses, but also allows online financial services companies to conduct transactions. Usually, e-commerce companies only offer this BuyNowPayLater (BNPL) plan to foreign currency customers and also withdraw their loans from financial institutions.
Incredible growth
Market experts say the BuyNowPayLater (BNPL) program in India has grown significantly just months after its launch. The BNPL project, which achieved multi-million dollar revenue in 2019, has grown from $ 1.5 billion to $ 2 billion in the past 18 months.
Associates
E-commerce and digital services companies must form an alliance with a financial services company to implement this BNPL program. As a result, Flipkart has partnered with subsidiary Flipkart Advance, Amazon at Capital Plot, BDM at Aditya Birla Accounting, Baizul Lacibe and Unacademy Capital Plot.
BNPL Project Dominance
As the dominance of BNPL program increases day by day, many leading companies in the public and private sectors have introduced such programs and acquired new clients. ICICI Bank and Axis Bank in particular have been active in this segment. In India, around 33 companies, namely Startup, NPFC and Bank, provide BNPL project services.
The Burden of Debt
While this BuyNowPayLater program is a good opportunity for many, it is also a tool to get people into debt. Buyers of real estate under such a scheme will be forced into debt as there will be problems of job loss and loss of income due to halo infection. What is your opinion on this project..?
Your opinion as a citizen..?!
It’s as if almost all banks offer credit cards. If all goes well there is no problem and if financial institutions charge interest or customers don’t pay it is a matter of both parties.
