Key Points
With the festive season setting in, the digital lending industry is betting big on a quick rebound in business, as consumers prepare to loosen their purse strings and merchants stock up to meet the additional demand...
While the December quarter historically sees consumer-facing businesses making the most of it, this year the fintech lending industry is on a much stronger footing to meet the heightened credit demand..
The company has partnered with a new set of lenders who will go live by the Diwali season, the company said.. Ecommerce company Amazon, which last week started its flagship sale event, said 25% of the shopping orders placed on the India platform were funded through instalments and that three out of four EMI offers were no-cost ones, where the customer does not have to pay any interest on the pay-later loan...
Bengaluru-based fintech Axio, which powers a significant chunk of pay-later loans on Amazon, said the number of applications has doubled during the festive season compared with normal business days and the rate of loan disbursals has gone up three times..
While banks and NBFCs have historically dominated this segment with offers on cards for consumers and business loans for merchants, buoyed by the overall rise in digitisation of the economy, the fintech lending industry is coming of age and seeking a larger share of the credit pie...
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