Bengaluru-based SlicePay, which began with offering purchase financing to students to help them buy phones or laptops, now also offers credit for booking flights or cabs or paying for phone recharge services.
Several other startups including Simpl and ePayLater, too, are focused on the ‘pay-later’ market for small-ticket purchases, offering young people credit of about Rs 2,000 repayable in two weeks to a month.
SlicePay offers credit lines to students based on data points such as their marks cards and social media profiles. It offers credit for Uber rides through its tie-up with Paytm and for airline tickets through MakeMyTrip.
ePayLater offers a pay-later option to individuals to book movie tickets at PVR cinema theatres, and has partnered with Crownit to offer the product at restaurants. About 70% of ePayLater’s customers are under 35 years of age, and about 60% from large cities.
Simpl has partnered with more than 40 merchants including BookMyShow, FreshMenu and HolaChef and has offered credit to about 2.5 million users.
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