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BNPL is next thing catching trend

Though Indian government has made a BAN over BNPL transactions which allowed verified Indians to gather small loans from BANKs or Payment service provider, but in UK and Africa this payment type is getting a lot of traction from local consumers and they are feeling its great advantage to buy things instantly and then plan later to payout in next coming 20 days time-limit.

Year on Year the trend has captured enough traction than any other payment type and many fintech companies and banks are taking advantage of the growing business of loans. below is the comparison between Credit card-based payment, personal loan and BNPL (as far as Indian market) has been shown below:

Image source PaisaBazaar

In India CRED was providing the service but it got to a halt due to Govt regulation.

Small loans like a personal loan from banks were already present in the Indian market which were charging around 13 -20 PERCENT interest, and it was a larger segment of debt in India, with BNPL the loan interest RACE may go lower or affect Banks collecting more Non-performing assets NPA. Whatever be the reason RBI has thought, BNPL's future seems less happening in the Indian ecosystem.

To understand how it works what fintech innovators are doing around the globe about this concept and how much longer this may stay, stay tuned for the below questions answers :

  1. How does it work ?

  2. What are the innovation happening with such products coming in market?

  3. Anything amazing with BNPL ?

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