Startups look to cash in on ‘buy now & pay later’ - ET Retail
Success rate for transactions on this mode are as high as 99%, which is one of the major selling points for ecommerce companies, according to the insi..;
- Industry insiders said mobile wallets, which were originally positioned as a single-click checkout process for online commerce, can slowly give way to a tab system where consumers can make purchases in one go and pay in bulk later.
- They might not be as mass market as wallets, but from a checkout convenience factor, they could be better than wallets.
- Jitendra Gupta, who heads LazyPay , said buy-now-pay-later is a typical credit product for consumers who are otherwise not eligible for a credit card.
- “Merchants look at entities like us from a convenience factor, but a consumer looks at it both as a convenient payment option as well as a credit card replacement.