Cashfree Payments offers India's widest range of Buy Now Pay Later (BNPL) options, enabling businesses to provide flexible payment options with card and cardless EMI, and Pay Later solutions. The BNPL suite helps increase customer conversions by 30% and is supported by 30+ banks and partners.
The Buy Now Pay Later suite from Cashfree Payments allows businesses to offer flexible credit options to customers without requiring upfront payment. This comprehensive payment solution includes multiple EMI and Pay Later options designed to reduce customer drop-offs, increase average order value by 40%-60%, enable easy access to credit, and attract new customer segments.
Cashfree's comprehensive BNPL suite includes the following payment methods:
Cardless EMI is a completely digital payment method that requires only the customer's phone number, not card details. This option is most suitable for high-valued goods like mobile phones, laptops, or furniture.
Key Features:
Supported Partners:
Debit Card EMI allows businesses to expand to the untapped customer base by introducing the debit card EMI option. This empowers India's 90+ crore debit card users.
How it works: Debit Card EMI involves drawing funds from the customer's associated bank account in set installments, directly affecting the account's balance. Qualification may depend on the bank's specific requirements, often relating to account history or balance.
Supported Banks:
Credit Card EMI allows customers to take a loan from their card issuer, which decreases their credit limit. The loan is repaid in installments. Typically, all cardholders qualify for this option, but the interest depends on the card and EMI duration, unless a zero-interest promotion is in effect.
Supported Banks (8+ banks):
Pay Later offers the convenience of credit cards to new-age shoppers, where they are assigned a credit limit and can repay in 15-30 days. Pay Later is preferred for low-mid size transactions with a lower credit limit of up to Rs. 60,000 as compared to Cardless EMIs.
Supported Partners:
Cashfree's Offer Engine allows businesses to provide No Cost EMI and special offers to delight customers.
Features:
BNPL Plus helps businesses become the most preferred shopping site by providing a best-in-class shopping experience. With BNPL Plus, businesses can display offers, EMIs, and Pay Later options right on their product page, empowering customers to shop more.
Benefits:
Plug-in availability: BNPL Plus plug-ins are available for major e-commerce platforms (specific platforms to be confirmed with Cashfree).
Cashfree offers transparent and friendly pricing for BNPL options:
| Payment Method | Pricing | Supported Partners |
|---|---|---|
| Credit Card EMI | TDR + 0.25% per transaction | HDFC, SBI Card, ICICI, Bank of Baroda, Kotak, Standard Chartered, Axis, YES Bank, Federal Bank, IndusInd Bank, AU Small Finance Bank, RBL Bank, HSBC, Citi Bank, American Express |
| Debit Card EMI | 1.50% per transaction | HDFC, Kotak, Axis, ICICI (Coming Soon) |
| Cardless EMI | 1.90% per transaction | HDFC, ICICI, Kotak, IDFC First Bank, Federal Bank, Zest Money, KreditBee, CASHe, Home Credit, Bank of Baroda |
| Pay Later | 2.20% - 2.50% per transaction | LazyPay, Ola Money Postpaid, HDFC via Flexmoney, Kotak via Flexmoney, Simpl, Freecharge PayLater, Zest Money PayLater, Ring, Mobikwik Zip |
*Charges applicable per transaction
Custom pricing is available for enterprises with the following benefits:
Businesses can contact the sales team to explore the right product(s) for their payment needs and get custom pricing.
With Cashfree's BNPL suite, businesses can readily tap into a base of 20 million plus pre-approved users across 20+ Pay Later and Cardless EMI partners.
Cashfree provides customized payment gateway integrations and plug-ins for quick go-live.
All merchants, except those in the restricted category of business like gaming, jewellery etc, can provide the BNPL options to their customers on their website or app checkout. While the majority of the merchants are auto-approved, some businesses are subject to approval from the BNPL partners.
It takes 7-10 days for approval and activation of EMI and Pay Later. Merchants can see what options are enabled for them on the Cashfree Merchant Dashboard.
Activating BNPL options is easy and can be done on the Cashfree Merchant Dashboard. Merchants have the freedom to choose which options to enable, with several of them already enabled by default. Merchants can also get in touch with their Account Manager or write to [email protected] for enabling any BNPL mode.
Merchants have the flexibility to decide which Buy Now Pay Later options they want to offer to their customers. All these settings can be conveniently managed from the Cashfree Merchant Dashboard.
Cashfree's default checkout process comes with a pre-configured eligibility check, ensuring only eligible customers see the Pay Later options applicable to them. This enhanced conversions by 30% for merchants. Merchants utilizing Seamless Checkout can integrate the eligibility check engine through Eligibility APIs with their website or mobile app, further optimizing the checkout process.
Merchants using Cashfree's Seamless checkout flow (Next-gen APIs) can easily integrate the Buy Now Pay Later options on their website or mobile checkout with a few additional parameters on the existing APIs.
Cashfree offers advanced payment gateway features to complement the BNPL suite:
Do instant customer refunds for online orders, COD orders, and deposits with advanced refund solutions to delight customers.
Get access to payment gateway collections within 15 minutes even on bank holidays, eliminating cash flow problems.
Temporarily block some amount of funds when a customer places an order and save payment gateway charges on canceled orders with Pre-auth.
Process saved card payments securely with India's first interoperable card tokenization solution.
EMI via International cards like Amex are supported for payments outside of India.
If a customer using Buy Now Pay Later (BNPL) fails to repay, the merchant typically faces no direct financial loss but can risk damaged customer relationships.
Auto-debit funds for periodic payments via cards, UPI and net banking.
Accept domestic and international payments for your website or app.
Split vendor commissions and manage marketplace settlements.
Collect and reconcile IMPS/NEFT/UPI payments using unique virtual accounts and UPI IDs.
Cashfree Payments hosts a wide range of alternate payment modes for businesses to increase sales without the need for any upfront payment from customers. Here are some of the Buy Now Pay Later payment modes supported:
The credit card EMI or debit card EMI option requires the customers to purchase a product from your website based on their credit or debit card validation. Customers are expected to enter their corresponding card details and verify it in order to avail the EMI option.
Cardless EMI, on the other hand, requires only the customer phone number and not the card details. Being a completely digital payment method, customers can purchase a product and pay for it in EMI without the need of a credit or a debit card. Most suitable for high-valued goods like mobile phones, laptops, or furniture.
When you use a credit card EMI, you're essentially taking a loan from your card issuer, which decreases your credit limit. The loan is repaid in installments. Typically, all cardholders qualify for this, but the interest depends on the card and EMI duration, unless a zero-interest promotion is in effect.
Debit Card EMI, on the other hand, involves drawing funds from your associated bank account in set installments, thereby directly affecting your account's balance. Qualification for this option may depend on the bank's specific requirements, which often relate to your account history or balance. Interest rates can differ based on these factors as well.
The cardless EMI allows customers without access to credit or debit cards to pay in equal instalments starting from 3 months and make high-value purchases. Cardless EMIs offer higher credit limit upto Rs.2 Lakhs.
Whereas Pay Later offers the convenience of credit cards to new-age shoppers, where they are assigned a credit limit and can repay in 15-30 days. Pay Later is preferred for low-mid size transactions with a lower credit limit of upto Rs.60,000 as compared to Cardless EMIs.
All merchants, except those in the restricted category of business like gaming, jewellery etc, can provide the BNPL options to their customers on their website or app checkout. While the majority of the merchants are auto-approved, some businesses are subject to approval from the BNPL partners. Contact [email protected] for more information.
Activating BNPL options is easy and can be done on your Cashfree Merchant Dashboard. You have the freedom to choose which options to enable, with several of them already enabled by default for your convenience. You can also get in touch with your Account Manager or write to [email protected] for enabling any BNPL mode.
Absolutely! You have the flexibility to decide which Buy Now Pay Later options you want to offer to your customers. All these settings can be conveniently managed from your Cashfree Merchant Dashboard.
Using Offer Engine on the merchant dashboard, allows you to create various offers for different payment methods. This flexibility lets your customers choose their preferred payment method. Merchants employing Cashfree Payment's hosted checkout pages and plugins will automatically have these offers applied, without any extra integration effort. You can also configure No Cost EMI offers, special cashbacks and discounts using Cashfree's no-code Offer Engine.
If you are a merchant using our Seamless checkout flow (Next-gen APIs), you can easily integrate the Buy Now Pay Later options on your website or mobile checkout with a few additional parameters on the existing APIs.
It takes 7-10 days for approval and activation of EMI and Pay Later. Merchants can also see what all options are enabled for them on Cashfree Merchant Dashboard.
Absolutely! You can configure No Cost EMI offer through the Offer Engine on your Cashfree dashboard. This option enables your customers to purchase goods in monthly installments without any interest charges.
With Cashfree's BNPL suite you get readily tap into a base of 20 million plus pre-approved users across 20+ Pay Later and Cardless EMI partners.
If a customer using Buy Now Pay Later (BNPL) fails to repay, the merchant typically faces no direct financial loss but can risk damaged customer relationships.
EMI via International cards like Amex are supported for payments outside of India.
Absolutely, Cashfree Payments has your back. Our default checkout process comes with a pre-configured eligibility check, ensuring only eligible customers see the Pay Later options applicable to them. This enhanced conversions by 30% for our merchants. If you're utilizing Seamless Checkout for your business, you can integrate the eligibility check engine through Eligibility APIs with your website or mobile app, further optimizing the checkout process.
Cashfree Payments enables 1 Million+ growing businesses in India and across the globe to collect payments, make payouts, manage international payments, and more. Cashfree Payments is backed by SBI, Y Combinator, Krafton, and Apis partners and was incubated by PayPal.
Businesses can create an account to start using Cashfree's BNPL suite or contact the sales team to explore custom solutions. The onboarding process includes: