The red flags around buy-now-pay-later schemes3 min read . Updated: 06 Apr 2022, 01:34 AM IST
- Buy now, pay later (BNPL) offerings are all the rage with consumers and are tipped to grow exponentially. But if the financial sector regulator tightens lending regulations and data practices, fintechs should brace themselves for even lower margins.
With its hassle-free, zero-interest, short-term loans to make all kinds of purchases, India's ‘buy now, pay later’ (BNPL) industry is attracting growing interest from consumers, businesses, investors and, lately, the regulator. About 22% of Indian consumers used BNPL in the last three months of 2021, according to a survey published last week by YouGov, a market research and data analytics firm. In terms of consumer adoption, India ranked third among the 18 countries surveyed. Further, 28% of Indian respondents expected to use BNPL in 2022, the most across countries.
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