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Use 'pay later' loan facility only if interest rate is attractive

However, be careful to avoid over-leveraging

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Many of the customers are first-time credit seekers attracted to the idea of instant paperless credit approval, says Kush Mehra, chief business officer of Pine Labs

Bindisha Sarang Mumbai

3 min read Last Updated : Oct 23 2020 | 12:06 AM IST

Amazon India disbursed over Rs 600 crore of credit to its customers through the ‘Pay Later’ offering, on the first day of its Great Indian Festival sale, said media reports. Besides e-commerce platforms like Amazon and Flipkart, even fintechs and banks offer this facility.

This loan facility offers access and convenience. Says Mahendra Nerurkar, chief executive officer, Amazon Pay India: “It expands customers’ access to credit. It also allows them to experience a convenient option for making payments and to manage their monthly spend better.”

The product is finding takers among younger buyers. Says Gaurav Hinduja, co-founder and managing director,

Topics : Instant loans Fintech

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