Cashfree Payments Introduces BNPL Suite

India-based payments and API banking solution Cashfree Payments has launched a Buy Now, Pay Later (BNPL) suite to offer flexible financing options.

Following this announcement, online businesses will be enabled to provide to their customers more than 30 flexible financing options at checkout by leveraging Cashfree Payments' BNPL suite. The company launched the offering prior to the holiday season to give businesses the possibility of offering easy and instant access to credit to their customers, thus resulting in increased sales. 

Online businesses that leverage Cashfree Payments' Payment Gateway have the option of activating the BNPL modes on their website or app checkout page without having to invest effort in any additional integration. Additionally, online businesses are also enabled to set up No Cost EMI offers on select banks and payment partners straight from the the Cashfree Payments' dashboard in order to attract first-time customers.

As of now, more than 20,000 online businesses leverage Cashfree Payments' BNPL suite, with businesses making use of the offering having noticed an increase in sales of up to 30%, as per information provided in the press release.

Cashfree Payments representatives have stated that the BNPL market in India is having a constant, rapid increase, as progressively more customers are on the lookout for flexible payment options when shopping online. Having this knowledge at its core, the company aims to empower merchants with a comprehensive BNPL suite to enable them to have significant value unlocked following the consumer preferences' shift.

(Source: The Paypers)