From Local to Global: How Simpl’s BNPL App Supercharges Delhi NCR’s D2C Business Expansion 2023
From Local to Global: How Simpl’s BNPL App Supercharges Delhi NCR’s D2C Business Expansion 2023
Business Ease for MSMEs: According to research by ResearchAndMarkets.com, the BNPL market in India is predicted to develop at a CAGR of 12.2% between 2023 and 2028.
In a statement, Nitya Sharma, founder and CEO of Simpl, stated, “By leveraging our cutting-edge Checkout Network and ground-breaking 1-tap payment solution, our aim is to enhance conversions and minimize cash-on-delivery for D2C merchants, delivering a seamless experience to millions of valued customers.” A financing option known as “buy now, pay later” (BPNL) allows clients to make purchases and pay for them over time without being charged any additional fees or interest. They are more often accepted compared to credit cards and short-term personal loans. Additionally, BPNL only impacts credit ratings if someone misses a payment.
He said, “We hope to help small companies to survive and succeed and define the future of e-commerce in Delhi and beyond by giving cutting-edge technical solutions.
Simpl, a cardless payment network introduced in 2015, provides consumers and businesses with various services like 1-tap payments and purchases now pay later. Twenty institutional investors, including Green Visor Capital, IA Ventures, and Valar Ventures, have invested in the business. Simple has 18 angel investors, including Haresh Chawla, although Green Visor Capital is the most prominent institutional investor in the industry.
As the world of digital commerce is rapidly evolving, Buy Now Pay Later (BNPL) apps have emerged as popular payment solution for consumers. One such app, Simpl, is making waves in the industry with its plans to onboard 10,000 merchants from the Delhi National Capital Region (NCR) for its direct-to-consumer (D2C) business expansion. This move signifies Simpl’s ambition to tap into the thriving e-commerce market and provide its users with a seamless and convenient payment experience.
Simple, founded in 2015 by Chaitra Chidanand and Nitya Sharma, is a fintech company offering its customers a unique BNPL solution. The app allows users to purchase at partnered merchants and pay for them later in easy instalments. With a focus on simplicity and transparency, Simpl aims to simplify the payment process and eliminate the need for credit cards or lengthy application procedures.
Delhi NCR, encompassing the major cities of Delhi, Gurgaon, Noida, and Ghaziabad, is a significant hub for e-commerce in India. Recognizing the immense potential of this market, Simpl has set its sights on onboarding 10,000 merchants from the region. By partnering with local businesses, Simpl Our goal is to offer users a diverse selection of options. choices and establish a strong presence in the rapidly growing D2C segment.
Simpl’s partnership with local merchants in Delhi NCR offers several advantages to both parties. Integrating Simpl as a payment option for merchantsExpanding your customer base and boosting sales can be achieved by attracting a wider audience. sales. By providing the BNPL facility, merchants can enhance their conversion rates and improve customer loyalty. Additionally, Simpl assumes the risk of customer defaults, ensuring merchants receive payments promptly and efficiently.
With the availability of Simpl’s BNPL app, consumers in Delhi NCR will have access to a hassle-free payment solution. The app’s intuitive interface and straightforward instalment plans empower users to purchase without worrying about immediate payment. By dividing the total cost into convenient instalments, Simpl allows customers to manage their finances effectively and purchase within their budgets. Furthermore, Simpl’s real-time approval process provides instant gratification and enhances the shopping experience.
In a competitive market, Simpl has differentiated itself from other BNPL players through its focus on responsible lending and a customer-centric approach. Simpl’s proprietary algorithm assesses a user’s creditworthiness based on various factors, enabling it to offer personalized instalment plans. By using this approach, we can guarantee that users will have access to. credit while maintaining financial prudence. Simpl’s transparent pricing and zero hidden chargesThis makes it an appealing choice for both merchants and customers.
The closest rivals of Simpl in India include MoneyView, KreditBee, ZestMoney, Kredivo, Mondu, and Mondu. According to the India Buy Now, Pay Later Business Report 2023 published by ResearchAndMarkets.com, the BNPL industry in India is currently projected It is projected that there will be a 12.2% compound annual growth rate from 2023 onwards. 2028, from $11,628.8 million in 2022 to $25,387.2 million by 2028.
Simpl’s decision to onboard 10,000 merchants from Delhi NCR for its D2C business expansion is a strategic move that positions the company for growth in the dynamic e-commerce landscape. By leveraging the region’s thriving market and establishing partnerships with local businesses, Simpl aims to provide seamless payment solutions to consumers while enabling merchants to drive sales and enhance customer satisfaction. With its commitment to responsible lending and customer-centricity, Simpl is well-poised to solidify its position as a leading BNPL app in India and beyond.
