To PMs: What do you think about BNPL?
GoTo is going to launch a BNPL product with TikTok soon. As a PM what are some things that you would do for something like this to succeed?
What are the shortcomings of BNPL or bill credits as a business model in your experience?
Which companies have overcome these shortcomings and are making BNPL or bill credit work as a business?
I request you to please share rational points and don't just rant about BNPL in India.
B2C BNPL is possible too, Simpl is a fantastic example.
But yes there are tons of failures too.
For now, I will stick to B2B BNPL business:
💡 Idea 1:
Tie-up with service providers like AWS, ZolvIt, Microsoft Azure. Enable businesses with few years in existence and no credit default history to avail your BNPL service.
Once payment starts going through you, enable loan facility for them. BharatPe aced this through their UPI.
💡 Idea 2:
Tie-up with ad platforms like LinkedIn, Meta, Google, etc.
After a business has availed say 1 Cr. of BNPL through you, give them attractive ad credit, better than what each of these platform actually offers.
There are more such ways to make BNPL work in B2B segment.
I am certain your Growth folks will be able to help you out more in this aspect.
GoTo is going to launch a BNPL product with TikTok soon. As a PM what are some things that you would do for something like this to succeed?
I was leading a team which was involved in launching BNPL for a commodity product( flight tickets/train tickets), and the API we were using to cancel the tickets at the last moment from the 3rd party providers was flaky. It was suppose...
So your customers realised they could get tickets for free through your app and that’s what caused 250% growth?