Indian digital payments company ePayLater which is based in Mumbai has partnered with another payment company called Cashfree to bring in its innovative payment facility to their merchants.
This partnership will bring ePayLater’s credit-based payment solution to almost all the merchants such as Daily Ninja, BigSmall, WheelStreet, EventsHigh, EduCart and Instaspaces using the Cashfree payment gateway.
Also, ePaylater is targetting to process Rs.1000 crore in payments within the next 12 months. The company wants the product to be rolled out to more than 5000 merchants on the Cashfree platform by next year.
“Offering credit via Buy Now, Pay Later option is one of the most exciting developments in Indian fintech and Cashfree hopes to offer this to online businesses via our partnership with ePayLater,” said Reeju Datta, cofounder, Cashfree.
ePayLater users need not type in their bank account or card details or use other during the check-out process. The transaction can be completed with just a tap. The users can make the repayment at a later date through simple and minimal online steps.
“We believe that ePayLater is going to emerge as the payment option of choice, especially for the time-conscious Indian consumer. By providing users with the option to pay later, we are not only simplifying their payment experience but also making credit more inclusive,” said Akshat Saxena, co-founder ePayLater.