• About
  • Advertise
  • Jobs
Tuesday, March 2, 2021
No Result
View All Result
KashmirPEN
  • Home
  • Latest NewsLive
  • Kashmir
  • National
  • International
  • Education
  • Art & Poetry
  • Sports
  • Weekly
    • Opinion
    • Analysis
    • NOSTALGIA
    • Personality
    • Narrative
    • Editorial
    • Concern
    • Cover Story
    • Society
    • Book Review
  • Home
  • Latest NewsLive
  • Kashmir
  • National
  • International
  • Education
  • Art & Poetry
  • Sports
  • Weekly
    • Opinion
    • Analysis
    • NOSTALGIA
    • Personality
    • Narrative
    • Editorial
    • Concern
    • Cover Story
    • Society
    • Book Review
No Result
View All Result
KashmirPEN
No Result
View All Result
ADVERTISEMENT
Home Latest News

SOLV launches ‘Buy Now, Pay Later’ for MSME sector

Web Desk by Web Desk
1 month ago
in Latest News, National
Reading Time: 2min read
0 0
SOLV launches ‘Buy Now, Pay Later’ for MSME sector
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

SOLV, a B2B e-commerce platform for micro, small and medium enterprises (MSME), has announced the launch of a Buy-Now-Pay-Later (BNPL) product for MSME buyers and sellers on its platform. BNPL as a concept has already made inroads into the consumer retail sector and seen significant success there, especially in the last year.

In the first phase of the launch, new age fintechs and NBFCs that are a part of SOLV’s extensive network of financial service providers, have started offering invoice financing through BNPL to small businesses on SOLV’s B2B commerce platform, giving them a shot in the arm in this period of COVID19-induced crisis, when many small retailers are running low on capital and cash to finance their needs. With the flexibility of BNPL available to them, small businesses can now service their immediate requirements without feeling severe financial strain, with more time at their disposal to make payments.

ADVERTISEMENT

In a statement, Jiten Arora, Venture Lead, SOLV said, “The application of BNPL in the B2B segment has been welcomed by our buyers and sellers. This product provides both convenience and financial flexibility to them, which results in growth, even in these challenging times. Going by the trend, one out of three MSMEs will avail this product by the end of 2021. BNPL is expected to contribute to SOLV more than Rs 100 crore worth of business in 2021.”

BNPL is helping SOLV further reinforce trust on the platform as it meets the needs of both parties – sellers who want to be paid upfront and buyers who want credit for financing their inventory. For the partnering fintechs and NBFCs, the BNPL offering helps them increase their volumes of loan disbursal, as well as gives them a way to evaluate a customer’s credit behaviour without incurring a big risk, as the financing is for the underlying business transactions. SOLV’s technology platform enables lending partners to lower cost to serve and thereby finance invoices as small as Rs 3,000. It is therefore a win-win for both small businesses as well as the lending partners.

At a time when traditional lenders have turned largely risk averse due to a weak economy, SOLV’s hassle-free BNPL scheme provides a convenient and viable way to service the daily operational requirements of small businesses. New-age digital lenders have been at the forefront of this concept. SOLV has partnered with three leading new-age lenders – Indifi, ePayLater and Davinta– for this initiative.

“Not only will this association accelerate the recovery process of affected SMEs, but it will also help us understand their underlying transactions and accordingly formalize credit for this critical part of the Indian business ecosystem. With a bundle of convenience and cost-effectiveness for a full cycle of B2B transactions,” said Alok Mittal, CEO, Indifi Technologies, in a statement. ( ET )

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

China’s PLA may ramp up military activity in Ladakh in 2 months

Next Post

CBK Files Chargesheet Against Man For Getting Govt Job On fake Certificates

Web Desk

Web Desk

Next Post
Fraudsters pose as KBC team, dupe people

CBK Files Chargesheet Against Man For Getting Govt Job On fake Certificates

Leave Comment
Visit 10Cric Live betting, Indias biggest sportsbook for online live betting on mobile devices.
ADVERTISEMENT
ADVERTISEMENT
Facebook Twitter Youtube RSS

©2020 KashmirPEN | Made with ❤️ by Uzair.XYZ

No Result
View All Result
  • Home
  • Latest News
  • Kashmir
  • National
  • International
  • Education
  • Art & Poetry
  • Sports
  • Weekly
    • Opinion
    • Analysis
    • NOSTALGIA
    • Personality
    • Narrative
    • Editorial
    • Concern
    • Cover Story
    • Society
    • Book Review

©2020 KashmirPEN | Made with ❤️ by Uzair.XYZ

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In