Flipkart claims to be the second biggest ‘buy now, pay later’ player

Flipkart, which is owned by Walmart, stated on Thursday that its 'Buy Now, Pay Later' (BNPL) business had doubled its user base. In just seven months, Flipkart Pay Later has surpassed six million users. Customers can get credit up to Rs. 1 lakh from Flipkart Pay Laters, based on their credit history. Customers can shop as many times as they want throughout the month and pay the entire bill in instalments over 30 days or via EMI.

Currently, the service is only available on Flipkart and Myntra, but it plans to expand. After that, players like Simpl, LazyPay, Mobikwik, Paytm Postpaid, and Amazon Pay Later could pose a threat. After Simpl, Flipkart Pay Later is the second largest 'Buy Now Pay Later' player with 6 million subscribers. The function can be used to buy things from a variety of categories, including food, lifestyle, general merchandise, and home.

It also offers mobile phones, consumer electronics, and major appliances on longer-term EMI plans. On a monthly basis, Flipkart Pay Later performs 3 million long-term EMI transactions, with 90 percent of these transactions coming from repeat consumers. The startup claims to provide a frictionless checkout experience because the platform does not demand any paperwork or a deposit before providing a credit line.