The buy now pay later (BNPL) juggernaut continued to grow bigger during the festive season as multiple players said that they saw disbursals grow by more than 100 per cent compared to Diwali last year.
LazyPay, the BNPL platform of Prosus-owned payments major PayU, saw credit demand rise 300 per cent over the festive season last year, especially in segments like travel, food & beverages and entertainment.
“We also saw an uptick of 70 per cent in user acquisition in the last two months. Around 60 per cent of the demand is from tier-2 and tier-3 cities, specifically outside of the top 10 cities in India, while the average age of consumers is 26-27 years,” said Anup Agrawal, business head at LazyPay.
Uni, a BNPL company started in June this year, saw more than 100 per cent increase in transactions, both in terms of volumes and value during the festive season.
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