You are here: Home » Companies » Start-ups » News
Business Standard

MoneyTap launches 'buy now pay later' facility for digital borrowers

Digital lending platform MoneyTap on Wednesday said it has unveiled a 'buy now pay later' facility for its borrowers

Topics
MoneyTap | digital lending | Fintech sector

Press Trust of India  |  New Delhi 

MoneyTap
MoneyTap logo

platform on Wednesday said it has unveiled a 'buy now pay later' facility for its borrowers.

The facility will enable users to finance their purchases while shopping at flexible rates, including lucrative options like 0 per cent EMIs across various online and offline merchants, said in a release.

The 0 per cent EMI option will be available for select purchases, as decided by a merchant or brand.

Although the concept of instalment loans is not new, millennials who are entering a stage of life where big-ticket purchases are becoming more relevant, many are choosing to use credit options at the checkout counter, said.

"The focus is both on customer affordability and becoming a sales driver for our business partner merchants. We look to be equally focussed on merchant-specific EMI distribution solutions which are available on mobile phones.

"Over the next 6 months, MoneyTap aims to provide 0 per cent and low-cost EMIs across pre-dominant growing customer needs in sectors across 10,000 merchants in consumer goods, education, and healthcare," said Anuj Kacker, co-founder, MoneyTap.

The platform said it will launch few more products in the coming months, including 0 per cent EMI card that will allow users to get an interest free period of 30 days.

Post 30 days, the pay later card allows the user the option of either paying the full amount or paying partially and converting the rest into EMIs.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, February 10 2021. 18:46 IST
RECOMMENDED FOR YOU