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Buy Now, Pay Later Firm Sezzle Tests Service in India for Year-end Launch
News 18Sezzle Inc is testing its buy-now-pay-later service in India for a potential launch at the end of the year, its chief executive officer said, capitalising on rapid global growth in online shopping as competition intensifies in the sector. Moving into India would mark an ambitious plan for the firm as the second-most populous country gravitates more toward a cash-less society and more people purchase goods on the internet during the COVID-19 pandemic. "If this works, we have a massive opportunity in India; We think it's well worth the opportunity," Chief Executive Officer Charlie Youakim told Reuters, pointing to a digital boom in India that presents a billion dollar-plus gold mine and could follow the success of firms like SoftBank-backed Paytm. Youakim said Sezzle started the pilot in July, but was still integrating with the Unified Payments Interface – a system that would power multiple bank accounts into a mobile application – and is evaluating repayment data.
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Buy now pay later and its financial inclusion scope
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