BNPL in India: A Convenient Solution with a Dark Side
In this post, the author addresses the exponential growth of India’s fintech sector, particularly highlighting the rise of Buy Now Pay Later (BNPL) services driven by a lack of specific regulatory frameworks. They elucidate how while some companies offering BNPL are under NBFC regulations, there’s a need for tailored guidelines to oversee and protect consumers engaging in BNPL transactions. The article further discusses the burgeoning concerns in India’s BNPL market, advocating for a more encompassing regulatory approach to mitigate issues like transparency, fraud, and data protection, aiming to bolster consumer confidence and legitimacy in these services.