BharatPe launches new BNPL consumer offering- postpe
By Leandra Monteiro
BharatPe, one of India’s fastest growing FinTech companies, announced its grand entry into the ‘Buy Now Pay Later’ (BNPL) category with the launch of its product- ‘postpe’. postpe provides credit to customers to buy now and pay later, for anything, and from anywhere.
Customers can download the postpe app from Play Store and avail interest-free credit limit of up to INR 1 million. postpe is a BNPL product that is not limited to big-ticket purchases, but can also be used for micro-purchases. BharatPe aims to facilitate a loan book of US$ 300M on postpe in the first 12 months, for its lending partners.
postpe is designed for the new-age customers who believe in shopping smart and are also well-versed with digital payment modes. postpe aggregates all the transactions done by a customer, across channels, and generates one bill for repayment. Also, there is no annual fee or transaction charges on payments done via postpe app or postpe card.
Ashneer Grover, Co-Founder and Managing Director, BharatPe said on the launch, “We are excited to shake up the Buy Now Pay Later (BNPL) category. postpe is a product built on 3 simple principles: 1) Consumer should be able to pay using credit everywhere – QRs, Card Machine or Online; 2) Consumer should be able to convert into EMI at ease – not inconvenienced at point of sale and 3) Merchant should not be charged for accepting payments through BNPL.”
“Our aim with postpe is to make EMI and credit available for everyday purchases. ‘Golgappa’ on EMI as well ‘iPhone’ on EMI is our motto. We find the current BNPL plays in Indian market suboptimal trying to copy the west for online checkouts whereas the true market in India is offline. postpe will be the leader in BNPL space in India by virtue of being no cost to merchants and universal acceptance,” added Ashneer.
IBSi Daily News Analysis
October 07, 2022
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