Pine Labs sees huge demand for its buy-now-pay-later service in hinterlands

Fintech unicorn Pine Labs is scaling up its efforts to expand in India’s Tier-2 and 3 towns, and hinterlands. The firm is witnessing a huge demand for its Book Now Pay Later (BNPL) services among the offline merchant community during this festive season.

Pine Labs expects to process BNPL transactions worth Rs 5,000 crore this month as an increasing number of customers in small towns are buying products from physical stores using EMI (equated monthly installment).

These include products such as smartphones, wearables, large appliances, smart televisions, and washing machines. Other categories in which it is seeing huge demand include fashion, apparel, and lifestyle products.