BUY NOW, PAY LATER
Digital transformation and adoption witnessed tremendous growth in the past two years and has changed consumer behaviour tremendously. “Sitting at home, I had access to anything that was digitally available. I started experimenting with a few things, but since August 2020, all my purchases have been online,” says 25-year-old Ahmedabad-based Divya Shah. She is among the many people who have quickly adopted digital, not just for work and entertainment, but also for day-today household needs.
Other than convenience, she uses the digital gateway to her advantage with the ‘buy-now-pay-later’ (BNPL) interest-free option that is available for several online spends. BNPL allows consumers to buy a product or service without worrying about making an immediate payment. The repayment can be either in full or in the form of the very popular EMI (equated monthly instalment) mode.
In Bengaluru, 41-year-old Venkatesh Chari, a software