Have you ever bought something first and paid for it later?
This form of financing - called 'Buy Now Pay Later' is expected to grow rapidly, in fact a report by McKinsey estimated that this form of point-of-sale financing is forecast to generate $7 billion of annual US revenue come 2024.
FinAccel is an example of a company that is trying to bring such concepts to the world. Their flagship product - Kredivo “Buy now, Pay later”, enables e-commerce buyers to apply and qualify for instant credit and pay back over time, with the aim of increasing access to credit to countries like Indonesia.
What are the various benefits of the “Buy now, Pay later” solution to a developing market like Indonesia? What are some of the risks associated to this sort of financing?
To answer these questions and more, I speak to Abhijay Sethia,
Head of Strategy, FinAccel, for his expert insights.