The most comprehensive “Buy Now Pay Later” (BNPL) suite in India is now available from Cashfree Payments. Online merchants will be able to offer customers over 30 flexible financing options during checkout thanks to Cashfree Payments’ BNPL suite. To assist online businesses in providing their customers with quick and easy access to credit and thereby boost sales, the company has launched its BNPL suite in time for the upcoming holiday season.
For cardless EMIs, Cashfree Payments offers brands like ZestMoney, Homecredit, and KreditBee; for pay later options, Simpl, LazyPay, and Freecharge; and for card-based EMIs, more than 16 banks. The BNPL suite from Cashfree Payments is currently utilized by more than 20,000 online businesses. Businesses that use the service have seen a 30% increase in sales. EaseMyTrip, Wakefit, and Byjus are a few of the online businesses that use Cashfree Payments’ BNPL suite.
Akash Sinha, CEO & Co-Founder, Cashfree Payments said, “India’s buy now pay later market is growing rapidly with more and more customers looking for flexible payment options when they shop online. At Cashfree Payments, we want to empower our merchants with the most comprehensive BNPL suite and help them unlock significant value from this shift in consumer preference. We’ve seen upto 30% increase in conversion rate and 40% higher average order value among businesses who offer BNPL modes on their checkout.”
Without requiring any additional integration work, online businesses using the Cashfree Payments Payment Gateway can enable BNPL modes on their website or app checkout page. From the Cashfree Payments dashboard, online businesses can also create No Cost EMI offers on particular banks and payment partners to draw in new clients. Customers can purchase expensive, premium goods at lower prices by using the checkout option Buy Now Pay Later. Products ranging from consumer durables to travel tickets and online education are now available to digital-first customers in both urban and rural markets thanks to instant credit availability and flexible repayment options.