Buy-now, pay-later (BNPL) services have grown in popularity in recent years, and amid the Covid-19 pandemic, it has witnessed a significant spike in customer growth. According to estimates, the global BNPL industry is expected to grow by 10-15 times, exceeding $1 trillion in the annual gross volume of goods. Millennials are now 37% less likely […]
How Can Embedded Finance Transform India’s Healthcare System?
Roughly 75%of the Indian population remains without any form of health insurance to date. On the other hand, those who have health insurance are practically in it to save taxes but are unaware of the terms and conditions of their policies. The majority of Indians still depend on their hard-earned savings or even borrowings for […]
Why Buy Now Pay Later (BNPL) is the Next Big Thing in Finance?
An increasing number of retailers are offering their customers the option of purchasing products and paying later in instalments. Regarded as the new standard of lending category, the buy now pay later or BNPL is a real competition to the incumbent credit card industry. According to estimates, the global BNPL industry is expected to grow […]
Decoding the Working of Account Aggregators in India (with FAQs)
The introduction of the ‘Account Aggregators’ is said to usher in a new era of India’s financial landscape. However, many analysts view it as a masterstroke strategy by RBI to empower and strengthen the data transfer needs of various stakeholders involved. Designed to help millions of customers get digital access to their data and help […]
How Account Aggregators can Lead to Safe Lending Decisions
Before disbursing loans to individuals and organisations, the first thing any banks or lenders do is to vet their financial situation and lending eligibility. Lending institutions will want to know if you’ll be able to pay back the money you borrowed (the principal) plus interest in a fair amount of time. Then came the Account […]
What are Payment Service Providers and how do they Work?
Digital payments have become so commonplace today that consumers involuntarily reach out to their smartphones for making purchases for virtually anything and everything under the sun. It is no shocker that over 40 billion digital transactions amounting to a value of more than quadrillion Indian rupees were recorded in the financial year 2021 alone! In […]