Infibeam Avenues Ltd (BSE: 539807, NSE: INFIBEAM), India’s premier publicly listed fintech company, has announced a collaboration between its flagship digital payments platform, CCAvenue, and ShopSe India, a wholly digital-first EMI/BNPL marketplace.
The partnership offers a flexible payment option to millions of consumers across India, while completing payments on innumerable merchant websites powered by CCAvenue payment gateway.
Buy Now, Pay Later (BNPL), a modern financing solution, is transforming how Indian consumers pay for online purchases. It provides ready credit, allowing shoppers to buy expensive items and achieve their aspirations. BNPL’s rapid growth in India is due to its simplicity and digital accessibility over traditional manual credit options.
Mr. Pallav Jain, Co-founder & CEO of ShopSe India and Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd, inked the agreement on the side-lines of The Global Fintech Fest (GFF) 2024, Mumbai. GFF has evolved to become the world’s largest fintech conference, reputed for its thought leadership and product launches.
“By teaming up with end-to-end affordability platform ShopSe India, CCAvenue will be able to tap into an increasingly popular payment option for the benefit of its mammoth merchant base,” commented Mr. T. Nandakumar Menon, Sr. Vice President – Alliances and Operations, Infibeam Avenues Ltd. “Our merchants will soon be able to reach out to a larger universe of consumers, comprising millions of ShopSe’s users in order to drive revenue considerably. They can provide their customers the convenience of a swift and seamless checkout along with the flexibility of easy repayment at a later date.”
Pallav Jain of ShopSe India, stated, “ShopSe is dedicated to providing a frictionless end-to-end digital affordability option to millions of consumers across the country when shopping on lakhs of business websites in India. Our strategic alliance with CCAvenue will help consolidate our digital finance platform, empowering our customers with an affordable, user-friendly means of payment for high value products.”
With a comprehensive network comprising 50,000 plus merchants across India, 200 plus brands serviced and 15 plus major banks/NBFCs, ShopSe India is an instant no-cost EMI or pay-later service (BNPL) player, which specialises in providing a common digital marketplace to lenders, retailers and customers making purchases online or at stores. The new age fintech is revolutionizing ‘Point of Purchase’ lending by bringing together the needs of the consumers and the lenders at the time of purchase, enabling the retailer to close the sale immediately.