Digital payments and financial services platform Freecharge has partnered with Cashfree Payments, a payments and API banking solutions company, to facilitate the ‘Buy Now, Pay Later’ feature for customers at no additional cost. According to a press statement, the partnership is expected to give customers more financing options while benefiting merchants.
“The partnership has the potential to accelerate customer adoption by leveraging Freecharge’s large user base. The BNPL solution’s integration will also help Cashfree Payments’ merchants boost sales and turn one-time customers into loyal customers,” the statement said.
According to the statement, “Pay Later” offers clients a secure payment option without requiring them to provide net banking statements or save their credit card information on merchant websites.
“The need for quick and hassle-free payment services has further increased users’ demand for BNPL products due to the convenience it offers with a short term credit line. The collaboration between Freecharge and Cashfree Payments aims to facilitate a favourable environment for financial inclusion, particularly for users who do not have easy access to organised credit,” said Siddharth Mehta, CEO of Freecharge.
“We are glad to add Freecharge to our BNPL stack. For customers, it means availability of easy credit at no extra cost thereby making purchases more affordable,” said Reeju Datta, co-founder of Cashfree Payments.
