New Delhi: Buy now pay later or BNPL loans are set to disrupt the credit market, with technology making it easier for lenders to provide sachet ticket loans, without risk or costs associated with loans with this category.
BNPL refers to expanded technical loans to borrowers at the point of sale as payment options.
Unlike credit cards, credit decisions are taken at places using technology for the number of sales.
“With BNPL, banks and other lenders can recruit credit.
It is like providing sachet-sized credit lines to customers without having to bear the cost of credit card infrastructure or extensive processes related to personal loans,” said Yezdi Lashkari, founder of Flexmoney Technologies – a company Enables BNPL loans for top banks in the country.
He added that the platform provides flexibility lenders opening temporary credit windows during festivals and hiking limits for a short time.
Besides Flexmoney, there are other players such as Paytm, LazyPay, Simpl, Capital Float and Zestmoney, which are active in BNPL, according to BernTein reports, the BNPL market in India is estimated at $ 15 billion with a potential of $ 100 billion in 2025.