Zestmoney saw an on year growth of 300% on year in BNPL transactions, and claimed that 2021 was a remarkable year for them.
"We have strong reasons and data to believe that the growth in BNPL this year was not a pandemic induced phenomenon as demand has consistently gone up over the last year even as the economy opened up," said Chapman.
Paytm's number of loans disbursed rose 714% on year to over 2.8 million in Q2 FY22. "The lending business continued to show strong growth as a result of the rapid scale-up of all of our lending products, including Postpaid (Buy-Now-Pay-Later), consumer loans, and merchant loans," said a spokesperson.
Uni, a company founded by Nitin Gupta last year, offers their BNPL offering via a Pay 1/3rd card, which automatically spilts transactions into 1/3rd with no interest.
"Pay 1/3rd card is one of the fastest-growing pay-later cards in India currently, registering a monthly disbursal of Rs 175 crore within six months. We have seen massive adoption in the last six months and is currently growing at 50% on month," Gupta said.