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Will Flipkart’s ‘Buy Now, Pay Later’ Feature Emulate The Magic Of Cash On Delivery?

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India’s largest e-commerce company Flipkart has a knack for springing surprises with bold, audacious moves. The e-tailer has taken another leap of faith with a ‘buy now, pay later’ option.

Takers for credit?

“Today, most online shoppers have multiple credit cards and serious buyers might not actually find a genuine reason to use this option. Ideally, most consumers would want to aggregate their credit spend on fewer financial instruments for better monthly financial planning and expense tracking. Besides, there’s also the problem of trust and transparency, as to the presence of any hidden charges,” says Sanchit Vir Gogia, Chief Analyst & CEO, Greyhound Research.

Gogia also feels that Amazon is unlikely to follow suit as the Jeff Bezos-owned e-commerce behemoth will instead focus on promoting its wallet Amazon Pay.

Wilful defaults

Gogia feels tying up with banks to mitigate default risks, and bringing in third-party financial entities will be key to the success of the feature.

Even after all the due diligence by Flipkart, if it has plans for a larger commercial rollout of the feature, it has to tie up with third-party financial institutions like banks, multinational financial corporations such as Visa and MasterCard and insurers, adds Gogia.

[VCCircle]

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Analyst:

Sanchit Vir Gogia: Sanchit is the Chief Futurist, Founder & CEO of Greyhound Knowledge Group, a Global Strategy & Transformation Research, Advisory & Consulting Group. He also serves as Chief Analyst & CEO of Greyhound Research, a Global, Award-Winning, Independent Technology & Innovation Research, Advisory & Consulting firm. To read more about him, click here.


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