Infibeam Avenues, a leading fintech company, has announced a strategic partnership between its flagship digital payments platform, CCAvenue, and ShopSe India, a prominent digital-first EMI/BNPL marketplace. This collaboration aims to offer a more flexible payment solution to consumers across India, enabling seamless transactions on countless merchant websites powered by the CCAvenue payment gateway.
What the Partnership Means
The integration of ShopSe India’s Buy Now, Pay Later (BNPL) facility with CCAvenue’s platform brings a significant advancement in consumer payment options. BNPL services, which provide ready credit for purchasing high-value items and achieving financial aspirations, have seen rapid growth in India. This popularity is driven by their simplicity and digital accessibility compared to traditional credit methods.
Pallav Jain, Co-founder and CEO of ShopSe India, and Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd, formalized the partnership during The Global Fintech Fest (GFF) 2024 in Mumbai.
Leadership Insights
T. Nandakumar Menon, Senior Vice President of Alliances and Operations at Infibeam Avenues, commented, “By partnering with ShopSe India, CCAvenue can tap into a growing and popular payment option, benefiting our extensive merchant network. Our merchants will soon have access to a broader consumer base and can offer the convenience of easy repayment along with a seamless checkout experience.”
Pallav Jain of ShopSe India added, “Our collaboration with CCAvenue is set to enhance our digital finance platform, offering a frictionless and user-friendly BNPL option to millions of consumers. This partnership will solidify ShopSe’s position in the market, providing customers with an efficient way to manage payments for high-value products.”
About ShopSe India
ShopSe is a digital platform specializing in instant, no-cost EMI and pay-later services. The company facilitates a common digital marketplace that connects lenders, retailers, and customers, streamlining the point-of-purchase lending process. Unlike traditional methods, ShopSe offers real-time credit eligibility assessments with minimal documentation, making it easier for new-to-credit customers to access financing.
Since its launch in 2020, ShopSe has partnered with over 200 brands and is integrated with more than 50,000 retailers across India, transforming the landscape of digital affordability.
The Growing Appeal of BNPL
The Buy Now, Pay Later market in India is experiencing a surge in popularity, fueled by its convenience and digital ease. This trend reflects a broader shift towards more flexible financial solutions, catering to the evolving needs of modern consumers. As BNPL services become more integral to online and in-store purchases, partnerships like the one between CCAvenue and ShopSe India are set to drive further growth in the sector.
