BUY NOW PAY LATER SHAKING UP THE EVOLVING M-COMMERCE INDUSTRY IN INDIA

Involved in development of intelligent money and invisible payments and is creating an inclusive digital payments experience for India, developing trust among merchants and their customers.

- Nityanand Sharma

The global pandemic of 2020 has revolutionized the entire scope of e-commerce to the extent that the expectations and demands of the consumers have flipped within seconds all over the globe.

Initially, mobile commerce or m-commerce was considered a sub-segment of e-commerce as it leverages the use of mobile phones and tablets to purchase products and services online. However, during the peak times of COVID 19, it has become a major sales channel for the merchants as more and more people are using their mobile phones to make frequent purchases on mobile applications of multiple eCommerce platforms. Moreover, mCommerce is easy to use across all ages.

Much of the growth of this industry can be attributed to the sub-continent’s increasing internet and smartphone penetration. By August of 2020, the number of internet connections in India had already crossed a 760 million threshold, which was mainly due to a drive by the ‘Digital India’ mission.