Strategy Note /
India

India's massive BNPL opportunity

  • India has just 35mn unique credit card users but 250mn online transactors; there is a huge BNPL opportunity

  • The BNPL user base should increase from 10-15mn now to 80-100mn by 2026, accounting for 15% of online consumer spending

  • Credit risk costs appear high; controlling these are key to the sector’s success. We expect more regulatory oversight

India's massive BNPL opportunity
Rohit Kumar
Rohit Kumar

Global Financials/Thematics

Rahul Shah
Rahul Shah

Head of Financials Equity Research

Tellimer Research
7 December 2021
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