ePayLater partners with Cashfree, aims to process Rs 1000 cr payments within next one year

Digital payment solution ePayLater on Tuesday partnered with Cashfree - a next-generation payment gateway - to introduce its ‘Buy Now, Pay Later’ facility to its existing merchants. With this partnership, ePayLater brings its credit-based payment solution to all its merchants including Daily Ninja, BigSmall, WheelStreet, EventsHigh, EduCart and Instaspaces using the Cashfree payment gateway.

The company has also set a target of processing transactions worth Rs 1000 crore in payments over next one year. It aims to roll out its services to about 5,000 merchants on the Cashfree platform in the coming year. Cashfree hosts payment methods such as Visa, UPI, IMPS etc. and is one of the first payment gateways to provide “Buy Now Pay Later’ feature on its checkout pages via its business partnership with ePayLater.

Speaking about the partnership, Akshat Saxena, co-founder ePayLater, said that he is confident that ePayLater will emerge as the payment option of choice, especially for the time-conscious Indian consumer. He said that the company aims to simplify the payment experience along with making credit more inclusive.

"We are happy to associate with Cashfree, a leader in the payments and transactional services industry. When it comes to payments, they need to happen quickly and securely. We believe that ePayLater is going to emerge as the payment option of choice, especially for the time-conscious Indian consumer. By providing users with the option to pay later, we are not only simplifying their payment experience but also making credit more inclusive," Saxena said. 

Reeju Datta, Co-founder Cashfree, said the company aims to reach out to more online businesses with its partnership with ePayLater. 

"Cashfree’s payment gateway serves as a platform for the newest offerings in payments and we are delighted to partner with ePayLater. Offering credit via Buy Now, Pay Later option is one of the most exciting developments in Indian fintech," Datta said, while adding that it has received a very positive feedback from our merchants and are seeing customers adopt this new payment method enthusiastically.