BENGALURU: A survey released by ZestMoney, a Buy Now, Pay Later (BNPL) platform, has revealed Karnataka as the top state in BNPL usage in India. According to the findings by ZestMoney, the platform saw a 2.5x increase in transactions in the state over the last year.
Of this increase, the platform also found that women consumers had increased 2.5 times while men consumers had increase twice as much as before. The findings also showed that new customers had come in mostly from the 24 to 27 year age group. Also, women users had tended towards upgrading electronics and buying lifestyle products while men spent mostly on fashion and wardrobes.
The platform allows users to split bills to pay later, similar to EMI payments with little to no costs added. Findings from ZestMoney also revealed that the payment option is popular not only in Tier-1 cities but across the state. The payment option was popular amongst users in the state to pay for electronics, clothing, edtech services, travel and home decor.