While the Buy Now, Pay Later (BNPL) services have been around for quite some time, it is the ongoing pandemic that has driven the adoption and growth of the BNPL industry in India. With over 60-70 million of Indian consumers and a large credit-averse population, BNPL is expected to disrupt the payments sector in India.
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Considering just the last two years, the Indian BNPL industry has witnessed a meteoric growth of 14x in two years with new user addition being very high and repeat rate and average ticket size escalating year on year. Further, it is set to boom in coming years as tens of millions of online shoppers get lured by interest-free credit with fewer hassles, increasing use of smart phone and internet penetration, credit demand unfulfilled by credit cards & convenience offered by BNPL platforms.
For more information on the research report, refer to below link:
India Buy Now Pay Later Market Research Report
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