Capital Float Partners with Razorpay to Extend Buy Now Pay Later Services

Fazzaco learned that Capital Float, India's leading Buy Now Pay Later and credit platform serving the financial needs of salaried & self-employed individuals, has partnered with fintech company, Razorpay.

The latest move is expected to extend Capital Float's BNPL (Buy Now Pay Later) solution – Walnut 369 to all Razorpay-enabled online merchants.

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Customers can sign-up while shopping, get approved instantly and pay for purchases over 3, 6 or 9 months. The partnership provides customers seamless and instant access to credit while shopping at direct-to-consumer brands. With the new partnership, Capital Float aims to expand to over 100,000 partners and serve customers across 100 cities pan-India.

Gaurav Hinduja, Co-founder & MD, Capital Float said, "Partnering with Razorpay is a significant opportunity for us to further the BNPL movement in India.  The pandemic induced lockdown created a rapid shift in consumer shopping and payment habits, which has accelerated the need for BNPL. With Walnut 369's industry-leading user-experience and our expertise in personal credit, we are offering a transformative payments experience to Razorpay users. Building on Razorpay's interface, merchants can leverage Walnut 369 to serve a large unaddressed population of new-to-credit and non-credit carded customers."

Khilan Haria, Head of Payments Product at Razorpay added, "Be it for bill payments or groceries or any e-commerce purchase, there's been an increasing demand for the BNPL service, more so in recent months. The demand for such payment options has been increasing – in the last 250 days, the BNPL payment mode displayed a towering growth of 220%, making e-commerce companies rethink their payment strategies. The timing of our association with Capital Float could not have been better. I believe that through this partnership, businesses will be able to offer instant signup for credit to their customers and drive revenue uplift via making their products affordable."