As the Indian consumer market shifted to online platforms to buy their goods during the last year, Buy-Now-Pay-Later (BNPL) or embedded finance options have become commonplace on most e-commerce platforms. These credit-payment options offer consumers a short loan for a specific purpose. BNPL credit products or their technical embedded finance essentially offers customers a small loan instantly in certain stores or on e-commerce websites. The reason why it's called embedded is because the financial component (BNPL) is within a larger product (say an e-commerce platform). For instance, a student looking to buy a laptop on Amazon or Flipkart, can quickly apply for a loan to pay the Rs 30,000 bill. Within a few minutes, any of the BNPL and e-commerce partner lenders can check your credit score and offer you an instant credit line to pay for the product. All e-commerce apps from the stores to cab aggregators and food delivery have some for of embedded finance product that provides advance credit, or buy now pay later options. According to a study by Kaleido Intelligence, the BNPL market is worth around $90 billion at present. But given the pace at which online commerce is being adopted across the world, the digital point of sale market globally would be worth $731 billion by 2025, of which $352 billion will take place through such credit products. According to a Research and Market survey, the Indian BNPL payment in India is estimated to be worth $11.5 billion in 2021 and would increase to…
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