A leading name in the digital credit market ePayLater has announced its partnership with Cashfree, a payment gateway, for introducing its ‘Buy Now, Pay Later’ service to its existing merchant base.
The newly launched service will be made available to 5,000 Cashfree merchants and it will take ePayLater’s credit-based payments solution to a wide range of merchants namely Instaspaces, Daily Ninja, BigSmall, EventsHigh, EduCart and WheelStreet.
As a part of this strategic partnership, ePayLater is planning to process payments worth Rs 1000 crore in the next twelve months.
As reported by the company, ePayLater’s services are garnering good response from across its merchants’ base in India and it is now expected to take the service to nearly 5,000 merchants available on Cashfree’s platform in 2019.
In a bid to use this service, users will just have to sign up with ePayLater once (if they have not done it before). This will allow them to the available credit limit.
ePayLater’s quick and seamless service makes it convenient for the users. The users are not required to mention their card/ bank account details or make use of any other modes of payment while completing the check-out process.
The transaction can be completed just by a tap. In addition, users will be able to make easy repayment scheduled at a later date using easy online steps. Cashfree is India’s first payment gateway to offer provide “Buy Now Pay Later’ feature during its checkout pages with the help of its business partnership with ePayLater.
Cashfree permits payment methods such as Visa, UPI, IMPS etc. and is one of the first payment gateways to provide “Buy Now Pay Later” feature on its checkout pages via its business partnership with ePayLater.
“Cashfree’s payment gateways are serving as a platform for newly launched services in payments domain and we are delighted to join hands with ePayLater. Enabling credit through Buy Now, Pay Later option is one of the most exciting developments in Indian fintech and Cashfree hopes to offer this to online businesses via our partnership with ePayLater. We have received a very positive feedback from our merchants and are seeing customers adopt this new payment method enthusiastically,” said Reeju Datta, Co-founder Cashfree.
“We are happy to associate with Cashfree, a leader in the payments and transactional services industry. When it comes to payments, they need to happen quickly and securely. We believe that ePayLater is going to emerge as the payment option of choice, especially for the time-conscious Indian consumer. By providing users with the option to pay later, we are not only simplifying their payment experience but also making credit more inclusive,” said Akshat Saxena, co-founder ePayLater.