Buy now pay later possibility hit amongst ladies: Survey

NEW DELHI: As survey has revealed {that a} majority of ladies desire buy-now-pay-later choice to bank cards for financing purchases. The survey carried out by ZestMoney, a synthetic intelligence-driven EMI financing and “Buy Now Pay Later” (BNPL) platform, revealed that 60% of the women surveyed opted for buy now pay later in 2020. The survey was conducted across key metros and Tier II/III cities in India, with a sample size of 1,600 women. Also Read | How citizen data led India’s covid battle Buy now pay later allows you to make purchases, with a repayment option of a later date. The survey also revealed that borrowers used funds to make purchases in edtech courses, consumer durables, and fashion. “It’s heartening that numerous ladies surveyed really feel that BNPL helps them get entry to a protected and clear type of credit score…We noticed a 20% uptick in ladies transacting on our platform final yr, a pattern we really feel will play out strongly this yr too,” stated Lizzie Chapman, chief govt and co-founder at ZestMoney. About 51% ladies surveyed stated they like BNPL over bank cards. Bangalore, Hyderabad, Chennai emerged as the highest three metros with highest such transactions by ladies. About 45% ladies prospects are within the age group of 26-35, whereas 27% are beneath 25 years of age. ZestMoney stated 65% of their ladies prospects are based mostly exterior of tier I cities, signalling rising demand from tier II and III markets. Among these cities, Lucknow, Vijayawada, Nagpur, and Kochi have witnessed the best BNPL transactions amongst ladies. Subscribe to Mint Newsletters * Enter a legitimate e-mail * Thank you for subscribing to our publication.