Buy Now, Pay later instead of credit cards.

Check out another way to pay your purchase beside of credit cards if Can’t Afford a Credit Card. The concept of buy now, pay later is now trending up with Indian payment merchant start-ups.

India is moving ahead in cashless economy and follows Digital money.


Now It’s increasing the demand for another payment method in which credit cards is more demanding. This is also leading to the concept of buy now, pay later just like credit cards concept and raise the digital credit start-ups. They also give you hassle-free transaction and the facility to buy what you need. These start-ups companies target customer is those who don’t have credit cards or can’t afford credit cards in India. companies like ePayLater & Slicepay is moving ahead in this segment.



Judging their customer credibility through social media.


The problem is lots of paperwork when you apply for a loan. the number of time you have visited at the bank branch for the same. If you have done with paperwork it doesn’t guarantee that you’ll get.



Company ePayLater has recently tied up with IRCTC giving users the option to buy a train ticket instantly without having to bother about whether they have sufficient money in their account at the said moment to pay for it. “It’s a moderately innovative way of making payments. The user can just sign up once and then we access their credit worthiness in real time and let them buy the ticket.





Akshat  Saxena from epaylater agrees to say, “A credit card is an unsecured however there’s no guarantee involved. A house loan or car loan is still protected because there’s an asset involved. Yet, ours can be the most reliable product because of the algorithmic interpretation we do for the credit tax. Everyone is on social media now and the evaluation done through the digital data is always perfect. The number of people we give loans to per month is surely a double digit rate.”

Doing away with all the annoyances, these start-ups base your credit worthiness through digital checkpoints. “It’s a longish process at the bank, which is why the credit card penetration is so low in the country. We have a propitiatory algorithm that assesses credit worthiness using alternate data. All of this is done in real time with minimum or no customer involvement. It’s a less pervasive model,” said Akshat Saxena, co-founder of ePayLater.


In India, lots of people who applied for credit cards and loans but most of the application had declined due to customer legibility. There is another segment customer who always needs urgent cash however they don’t have any access to college students and age group of 18-26. Slicepay makes way for micro credit use cases. “There are over 100 million people between the age group of 18-26 who don’t have credit cards.  students who need small loans and banks never targeted that segment. Taking the whole process digital, we offer them the ability to buy a smartphone or laptop. Slicepay gives average credit loan is 15,000,” said Rajan Bajaj, co-founder of Slicepay.