Arya.ag introduces BNPL service for commodity purchase

Arya.ag, India’s Agri service platform, has launched BNPL (Buy Now Pay Later) for its buyers. This service is open to every buyer who buys 150-200 tonnes of Agri produce (grains/oilseeds/pulses traded annually).
 
The service will ease the age-old challenges of finance in the commodity buying space, the company claims.
 
Buyers on the Arya.ag platform can avail of the credit up to Rs 25 lakh, with a 0 per cent interest rate for 14 days. This amount is expected to go up to Rs 2 crore in the coming future. To avail of the BNPL service, buyers will have to upload their KYC and basic financial details. Once cleared, they can avail of the credit in a matter of minutes.
 
Arya.ag aims to bring multiple players offering BNPL services and plans to extend these financial solutions to warehouse rent, loan repayment, etc. Through BNPL, the lender benefits from picking up cash discounts for early payment, and the buyer gets to pay later without paying interest, making it a win-win for all the stakeholders of the transaction, the AgriTech service provider added.
 
Prasanna Rao, Chief Executive Officer,  Arya.ag said, “Through the BNPL service, Arya.ag will bring in more ease and trust in commerce and the market linkage transactions. It will mitigate payment risk for the supplier and add assurances for the buyer which will benefit farmers, FPOs and small Agri-businesses selling on the platform.”

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