Monday, August 15, 2022
-Advertisement-
-Advertisement-
Tech ObserverNewsLive UpdatesCashfree Partners With Ola Money to Bring Micro-Lending to Online Shoppers

Cashfree Partners With Ola Money to Bring Micro-Lending to Online Shoppers

Bangalore based payments Technology company, has partnered with to launch Pay Later facility for the consumers of its online merchants. The service allows consumers to defer payments for online shopping through a short-term microloan. The service, popularly known as Buy Now, Pay Later, is faster than regular banking transactions with zero friction.

Using Pay Later service consumers can get 15 days credit for an amount ranging from Rs.1500 to Rs.20,000, depending on their credit profile. The service is especially useful for consumers who do not have a credit card or do not have their online banking credentials.

Nitin Gupta, CEO of Ola Money, said, “We are excited to take Ola Money Postpaid to a whole new set of online merchants through Cashfree. We have been running Ola Money Postpaid for some time on Ola Cabs app and the response has been phenomenal. Cashfree has given us the distribution we needed for getting to a versatile set of merchants.”

Akash Sinha, Co-Founder and CEO of Cashfree, said, “We are excited to enable Pay later as a payment mode for our 5000 merchants. We believe this will not only add convenience to consumers to pay faster but also open a whole new set of consumers for our merchants. At Cashfree, we are aiming to launch many such innovative products for our merchant partners that add to their top line.”

Cashfree currently does about 2 Million transactions every month. The gross transaction value has grown at 30% month on month for the last 12 months and is expected to touch Rs.2500 Cr per month by end of this fiscal.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

- Advertisement -

Your Comment on this Story

Comments

Share on activity feed

Powered by WP LinkPress

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our Newsletter

83000+ Industry Leaders read it everyday

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
- Advertisement -ESDS SAP HANA Community Cloud
- Advertisement -Digital Senate 2022

RELATED ARTICLES

- Advertisement -