Covid-19 has brought in a paradigm shift in India’s digital payments landscape, and has led to rise of several sub-industries such as Buy Now Pay Later (BNPL) in India
While India has handful of players in this segment, to capture the industry further — traditional banks such as ICICI Bank (ICICI PayLater) and HDFC Bank (FlexiPay) have also stepped into the competitive BNPL space
BNPL is emerging as the fastest growing ecommerce online payment method in India, estimated to capture 9% of the total ecommerce market share by 2024, according to Global Payments Report by Worldpay from FIS
Ecommerce is gaining momentum in India with consumer and retail business adoption at an all-time high. While companies are trying to maintain a strong foothold in Tier 2 and 3 cities due to the rise in demand from these markets, they are also aiming to expand their horizons in metros and Tier 1 markets with D2 plays to cater to the rising disposable income in these regions.
Over the past couple of…