FinTech Playbook: Buy Now Pay Later | De-mystifying the tablestakes

We expect regulatory convergence on the back of the RBI's recent narrative for digital lenders although FinTech BNPLs are likely to sustain their superior user experience. Within a bouquet of BNPL options, credit cards remain the most exhaustive and profitable and, in fact, offer an up-sell opportunity for credit-tested top-of-the-BNPL-pyramid customers. India's Buy-Now-Pay-Later (BNPL) is positioned as a source of gateway credit and poised to grow to USD56bn by FY26 (~5% of digital P2M payments) on the back of rising ecommerce and digital payments penetration.