Why BUY NOW PAY LATER Cards are facing the heat from the Regulators? : DARK side of BNPL

Disclaimer: The views expressed are that of the creator and does not represent the views of the sponsors.
Manage your Credit Cards with CRED: app.cred.club/spQx/svvol25l
VIDEO INTRODUCTION: In the past 2 years, The buy now pay later industry has been one of the fastest-growing industries in India. and whats absolutely mind-blowing is that the BNPL market is growing so fast in India, that it achieved an insane growth rate of 569% in 2020 and 637% in 2021.
But on 20 th of June 2022, the Reserve bank of India made an announcement that shook the entire BNPL industry!! This notification disallowed non-bank prepaid wallets and prepaid cards from loading credit lines into these platforms. In simple words, This is a huge blow to some of the fastest-growing Indian start-ups like Slice, Uniorbit, and Jupiter. and until now these start-ups with their credit lines have played a vital role in taking financial inclusion and digitalization to the next level in India,
So the question is, What is the problem with the buy now pay later industry?
Why is the RBI hindering its growth with these regulations in spite of the industry growing at such a rapid pace?
and most importantly, as a student of Business what are the study materials to help you understand the super fast BNPL market of India?
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inc42.com/features/lack-of-tr...
www.cnbc.com/2022/05/13/buy-n...
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#bnpl #buynowpaylater #rbi
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[@ThinkSchool]

In an update notification on Slice app, the company said starting June 1 paying in full will continue to be interest free and interest will be levied when customers slice the bill in two or more installments. For any other usage in previous billing cycles which were sliced into 2 or 3, any interest charged is being fully refunded by Slice through cashbacks. It was available only for SELECT customers with good credit score inc42.com/buzz/jupiter-kreditbee-shut-prepaid-card-operations-amid-rbis-credit-ban-on-fintech-ppis/ And here is a clarification for people who want clarity about Jupiter. Although Jupiter is not the same as Slice, they have a restriction with PPI which is the subject of the video inc42.com/features/will-rbis-circular-for-non-bank-ppis-serve-a-death-blow-to-some-star-fintechs/

[@DisInterestedGuy]

That is because Slice is in huge losses. They aren't able to generate revenue yet, Uni cards might have to do same thing in future.

[@adityajoshi7]

As far as I know, NPCI will be launching a BNPL option in coming future. So lets wait for it.

[@AmalDevYT]

Jupiter is neo bank not pay later

[@divotiontogod]

"if you use this feature to buy *unnecessary* stuff to impress *unnecessary* people, you will fall into *unnecessary* trouble" 😂👍 good one!!

[@rishabhpaul15]

Bruh, it's about damn time you start pronouncing "their" the way it is, than calling it as "they're"!

[@deepGanguly98]

“Buying unnecessary stuff to impress unnecessary people” Reasons why I religiously follow this channel.

[@feministba]

😆😆

[@SumitSinha_ArtFreak]

True but not the case all times ..people buy things which they need or like to have

[@beactivebehappy9894]

He just made his own version of the quote said in the news article, "people use bnpl for buying things they don't need with the money they don't have"

[@aniketmg]

i precisely did this few years ago...and now still reeling under debt burden while she left for another better-paid labourer "bought unnecessary stuff for that unnecessary person"

[@deepGanguly98]

@@aniketmg really sad to hear bro it’s good you avoided a red flag

[@realnileshpawar]

Buy now, pay later is a soft debt trap for middle class families.

[@azimkhan4805]

Same way credit to small competition businesses kill the businesses only large company should get credit because big company and big business never bankrupt

[@laveshmaheshwari8573]

No bro it's not like that If they used bnpl apps wisely it can be the best

[@ghostofantarctica8216]

@@laveshmaheshwari8573 And you expect an average person to be wise?

[@Mrjain8555]

@@laveshmaheshwari8573 Bhai Tu marwari hai Tu samjtha hai.. baaki log nahi samjthe

[@idzkk]

The lending partners of all these apps are banks themselves.

[@runormaxi6209]

ACCURATELY SPOKEN to INVESTMENT EXPECIALLY IS REALLY PROFITABLE NOWADAYS

[@philiphoffman5777]

Bitcoin is the most profitable investment online if only you trade with a professional broker

[@jasperslims6212]

Share your personal success stories

[@dianajunior4026]

ACCURATELY SPOKEN BITCION

[@PETER-th5lf]

Buying now is not a bad idea especially now that the current rise of bitcoin is high

[@judemichael8370]

he's man made of FX

[@sagarsahu2355]

I studied more case studies through this channel than in my whole MBA curriculum and the nice part being I remember most of them. Thanks for such insights 👏

[@abjee1602]

The case studies and videos are really entertaining, there is no doubt about that. But will watching them make anyone a really effective manager or a successful entrepreneur? I don't think so.

[@akshayjain6290]

@@abjee1602 not directly but the it's just that is broadens your perspectives and that translates into you being more effective and all other good jazz

[@aannkkiitt]

@A46 Vishnuu D Patil codes, coding

[@LalitPatilcasper]

From making video on Cred's business model to getting actually sponsored by Cred for a video. Ganesh and team have done a phenomenal job in achieving this milestone! Many congratulations :D

[@Vinothmanick]

When cred sponsors ur video it shows ur growth been following up from 30k subs

[@mohank5270]

Good presentation. Video is only projecting more of rosy picture but very very less of thorns below. Take lessons from other countries where it has failed miserably. It is not right to introduce with out proper regulation. If you see on news during covid times many people got loan from mobile apps, which are unregulated and people who took loans are tortured and blackmailed for recovering and Many people who took loan has committed suicide. What is the guarantee that this bnpl also does not resort to such recovery methods? I agree bnpl is needed with regulations by statutory body for fixing responsibility and countries positive growth.

[@parodayn2594]

😀😀😀

[@saisubhash1]

It was a paid promotion dude. CRED is a shitty company, overvalued and over marketed.

[@dilsere1775]

@@mohank5270 completely agree.

[@Anuj_Tomar]

Love RBI , RBI is the regulator who is seriously saving a ton of scams in india. - OTP for credit cards, scam risk is 0 with same, in other countries it is a huge risk and exploited a lot - Sense of security while investing on demat apps, as money can be added/withdrawn to linked & KYCed account only - UPI is another gem

[@pradeetswamy7124]

So true, RBI and NPCI are doing a tremendous job 👏

[@randyorton06]

1) otp for credit card is so useless like bruh you need to see your phone and working simcard to transact to prrotect idiots who get phished and scammed by their dumb countrymen 2) indian demat apps are joke cant sell equity without otp lmfao what 3) its literally just a bad copy paypal with joke of a daily limit rbi is only good at hindering tech growth and printing more inr. not that i give a crap since i dont have any inr anyways bnpl was only good thing seamless transaction which this stopid people banned coz muh you will spend more like bruh gtfoh i know what i do you neednt wory mate. india is only good at being poor and getting scammed by their gov and remain a third world country forever

[@AmitSingh-sw8qb]

In India your money is safe almost everywhere. And if you still get managed to be in fraud, then there’s something seriously wrong with you only.

[@junglee-bee]

But OTP on Credit Card is applicable on gateways hosted within India only. If a foreign hosted gateway is used then no OTP and amount is directly debited. Just FYI

[@arunroy9997]

I hate them.... they r worms to innovation I'm 22 and i greatly benefited from slice.....zest money......yes rbi should make rules so credit is given to credit worthy But shameless is rbi....most of people in my college had befitted

[@vsbelieve]

As a regular Slice Customer i would like add the point that Slice no longer let's you split the bill in 3 parts(without interest instead it charges a hefty interest) if you try to split it even for 2 months. They literally abandoned the meaning of their own name 'SLICE' coz you can't slice it anymore without paying a interest as high as 36%.

[@favorablechanges]

Right here

[@junglee-bee]

So, you have been slicing your bill 🤔 How has that affected your CIBIL score? Did anything come up as an unsecured loan?

[@vsbelieve]

@@junglee-bee i didn't slice my bill till date as i had the funds to pay it back after each month. But i know that Slicing your bill was interest free for first 3 months but not anymore and my credit score is pretty good tbh.

[@zubaankesari9959]

Yes bro, 3 months no interest scheme has been removed , now they are charging interest if it is more than 1 month.

[@sheilakijawani2526]

How to check cibil score? Can one have it even without having a credit card issued to their name?

[@mitracoolshoubhik]

When I heard for the first time about BNPL, I was getting a sense of 2008 subprime crisis. And with India where majority people income less than 20-25k pm, there's a high chance of similar situation playing around!

[@akshayjain6290]

Yeah i also thought the same

[@thomsondcruz]

At least in sub prime crisis there was a collateral which was the home. Here there is nothing. Dangerous

[@MrIndia360Degree]

This is a hint given by RBI, SOONER OR LATER financial crisis will come.. This helps the middle class people to avoid buying things which they cannot afford.

[@pratikdedhia]

Yeah, I was also thinking the same

[@isha8229]

very true

[@kadarkarairajI]

Is it economic crisis or financial crisis?

[@MrIndia360Degree]

@@kadarkarairajI in macro level it is economic crisis... In micro level, it is financial crisis.. Here and there, both are same in general terms.

[@zoho6992]

they are monitoring other countries situation like South Korea and China and others .

[@abhinavnegi4859]

Think School (Ganesh), you're perhaps one of the best few channels on economy, geopolitics, and general world affairs I have ever seen. With unbiased and education-based content you continue to inspire all Indians to keep themselves well informed. Hats of to you man! __ First comment btw

[@ThinkSchool]

Thanks bro

[@nayanpandey7809]

Yes he is one of the best, But I would also like to suggest you to watch world affairs by Prashant Dhawan sir. He is great if you need knowledge about geopolitical news.

[@markjokerberg]

@@nayanpandey7809 true

[@siddhantatiwari475]

@@ThinkSchool Keep up the good work bro!!

[@abhinavnegi4859]

@@ThinkSchool OMG can't believe you replied! Thanks man :)

[@mystic.saurav]

Update/ Correction: SLICE doesn't offer "Split the bill in 3 parts at NO COST" anymore. They moved away from their USP last month. It's a useless card now, as the target customers who purchased it for NO interest Slicing of Bill into 3 months will now have to pay interest if they choose to slice the bill 🤣

[@thecrypticmystic28]

How much interest?

[@Vstor-su7lj]

@@thecrypticmystic28 for 1000 RS, 60 trnsfer fee + 115 intrest = 1175 for 5 months

[@thecrypticmystic28]

@@Vstor-su7lj huge interest

[@stephanarul142]

@@thecrypticmystic28 credit card companies usually charge anywhere between 18-36% p.a. interest.

[@ArjunSingh-up6gy]

They are theifs

[@kevinsalmador739]

What a line "If you use it to buy unnecessary stuff to impress unnecessary people, it's going to land you in trouble" Very important teaching

[@adityakamath5263]

Such a big debt trap, when you have money in your account you still try to pay from cards like slice and uni because it makes you feel you aren't spending own money but in real you are losing more money.

[@manojd8571]

How ?

[@thararamesh315]

True!

[@vedsaga]

@@manojd8571 by paying interest to those companies

[@shekharsoni4148]

@@vedsaga abe time se pay karna free padta hai bnpl me

[@vedsaga]

@@shekharsoni4148 but, common man mostly or students get burden by it. Qui ki savi soch samj kar use nahi karte... Aur waise avi ye habit ki starting hai just like jio... But, as people used it more it will become like habit and then after few years they will start charging...

[@shrenikmahe]

I have been using Slice since my 1st year of engineering. Initially they started offering to only college students and later expanded to all customers. 1. In the 1st phase they provided service to generate gift cards for e-commerce sites, where the voucher amount could be split into EMI with some interest. 2. In 2nd phase they launched a virtual credit card in partnership with Federal Bank for online payment expanding to all sites where the vouchers could not be generated. For me they provided a credit limit of 5000/-. 3. 3rd phase they started providing physical credit cards by increasing the credit limit to 20,000/- so users could also make payments at POS machines. That was a RuPay card. 4. Later they started increasing credit limit to higher value based on CIBIL score and repayment history. Slice tied up with SBM bank for to provide new CC with higher limits upto 55K. I don't agree with BNPL being a debt trap as it all depends on your financial decipline. It has helped me in many emergency and needs. Basically it was the 1st credit card in the house and was very helpful.

[@anubhavsharma90]

"it all depends on your financial decipline" Answer to this lies in your statement itself. India is full of illiterates and fools.

[@bossman1502]

I agree, when banks are so strict with their credit card policy, it is easier for one to get credit cards through BNPL. Such a policy will only hamper people to avail credit and therefore result in fewer consumer expenditure. Sometimes, government policies do not make sense at all.

[@kamalsharma2839]

@@bossman1502 Don't you know how these so-called credit companies cheat ?

[@bossman1502]

@@kamalsharma2839 I use slice pay myself and i don't see any issue with it. In fact, it has improved my financial position.

[@bossman1502]

@Jitendra Khasnavis True, any credit card is risky if we do not follow financial propriety ourselves. The move made by the RBI is very disappointing.

[@ArjunGupta-nx7xi]

best part along with wonderful presentation and knowledgeable content is the topics which you choose, really you are working very hard Ganesh and kudoz to your team also who work so hard at the back end to provide us with these videos...the quality of videos has really upgraded since past 3-4 months

[@bdpodhar7102]

indeed wonderful video, keep doing great work ganesh.

[@saisibi6708]

Honest to god when this trend started, I steered clear from it. I was criticized so much by my colleagues and was told I'm archaic. This concept never really stuck with me. If we can't afford then we can't afford it, done deal. Get to the point where you can afford the item, then buy it. IF it is for your own development, I still think there are better sources to approach than bnpl.

[@namishbaranwal3522]

EXACTLY. I mean sure, the microcredit system is good for things like, you know, the classic example of a woman buying a stitching machine to start a clothes business and repaying the loan from the profits; but the way people are using it these days is silly.

[@AkumaNoKuma]

if you are a student, it maybe wise to borrow from a friend you can trust or family if it's important

[@puneetmishra4726]

So true. Even with hundreds of innovations in finance sector, as a consumer one should strictly follow this mantra "buy only if you can afford". Simple.

[@vorrdegard2176]

For every sane person there is 10 idiots around the corner

[@anirbanb7374]

Whoa…. How would you buy a home or car without a line of credit…..read mortgage?

[@maheshpatnala]

The Education system could include Personal Finance planning for kids in school which might educate them better. So that in future they can again start the BNPL systems but with some regulations. I feel like Education on Personal Finance/ Personal Budgeting is very much neglected almost everywhere... Thanks for a grt video brother! Edit: I also have a doubt now, wouldn't the move increase the number of unrecognised Loaning companies!? (I mean Unofficial)

[@divyanshpathak8804]

Bacche Chutiya hai like me we will skip those classes

[@jioboy2676]

School me hi sab padha denge to college kyun he?? Courae specialization kyun he? 😂

[@RajatG69]

Cannot be done practically

[@justanintellect7760]

@@jioboy2676 most illogical and immature Question.

[@soumyajit4286]

@@RajatG69 Can u please explain why

[@harshmishra4793]

it is really helpful, finally i understand how exactly the BNPL work, lots of love to your content !

[@emiltjoseph2025]

Wondering how well RBI is proactively taking steps to save youngsters & economy but utterly helpless when it comes to lending for big shots and corporates through consortium of nationalised bank. The scale is much much higher and remember that the public money is looted in the best possible manner. Why the system always makes poor the poorer and rich the richest.

[@krishna2555]

Sad reality bro

[@rajsmora]

If not regulated, it could cause a situation like 2008 in US

[@akshayiyer8897]

I too got reminded of this

[@raghuveer4552]

I don’t think you actually understand what happened in 2008 US. Hint: BNPL has nothing to do with it

[@girishsai7339]

You made a video about cred long ago, now cred is your sponser ! WOw, your channel's growth is exponential !

[@anilraghu8687]

He is helping cred like companies to loot the country

[@zerokelvin4119]

stumled into the channel, nice informative video! with concise explanation and reasoning!!

[@ajayaadhav]

Just Wow!! your content is amazing as always..

[@rayedaslam]

Frankly speaking I don't see BNPL posing a bigger threat to people of India than the instaloans apps. And RBI does not seem to be doing anything about it. Most students using bnpl don't get a credit line of more than 20000 whereas they can instantly get a loan of 1 lakh. This more likely seems like a move to save the banks of India as it is losing its future customer base.

[@sensei3265]

Jackpot

[@blackcat-mp7kh]

even you take big amount there is still friction to it. you wont spend 1lakh on unnecessary thing because we know its big amount and we have to pay interest on it but bnpl service is different because its small amount yet you will most likely to pay it on unnecessary luxury things

[@ddash200]

True that

[@ArnavBarua]

bang on !! When it comes to Banks RBI turns a blind eye !!

[@rayedaslam]

@@blackcat-mp7kh if we are talking about people under 25 I don't think they can spend on luxurious items with bnpl cards. They hardly have that much credit line. Slice offers a credit line of under 10k to students. But the temptation of buying an iPhone by taking a loan from gPay cuz that rich classmate just bought one is really difficult to resist at that age with such easy instaloan options nowadays.

[@sharvilmodi2977]

Whole ecosystem of Fintech, Investors, NBFCs, and Banks has came on risk. Because RBI is working on its payment vision of 2025. Here, the main thing is that it will promote digital transactions.

[@sharvilmodi2977]

@@sureshkumarkp8802 yep! Absolutely right

[@akshayjain6290]

@@sureshkumarkp8802 exactly

[@akshayjain6290]

And i think upi is doing enough to promote digital transactions

[@Tensaroxx]

Haha bro your comment was scrapped by the Xavier bot has 50 likes now

[@sharvilmodi2977]

@@Tensaroxx haha I just saw that comment by Xavier Uncle 😂

[@TheSumitsscet]

As always, a fantastic in-depth analysis from you .

[@ganindunanayakkara8970]

Brilliant content, as always!!!!

[@chauhanmayurs]

Wow!!! One day you made case study on CRED and today they are sponsor. What a wonderful progress. Keep it up.

[@wamankumbharkar119]

India already has good amount of illiterates, The ones who are literate have very low financial knowledge.This is a good move as people wont fall for the debt trap.

[@NehaSingh-px7ni]

Using the term ILLITERATE for your own people doesn't sound good to me . Better use the word 'Deprived of Education' when you mean uneducated. And... when you mean literates having low financial knowledge better use Educated Illiterate . Why do we always need to bog down people who are deprived.

[@wamankumbharkar119]

@@NehaSingh-px7ni I mean what you say is correct but the sad reality is masking these things wont lead to anything,As bad it sounds financial knowledge is something every country lacks in and India is one of them inspite of knowing it we dont teach it in school or colleges its just the experiences these bad that teach u the hard way.

[@jagadeesh_damarasingu]

You can be literate, but have zero knowledge in self-finance. both are two different things. many uneducated have far better sense of finance than educated.

[@isolvechess1941]

@@NehaSingh-px7ni you can't correct a problem using diplomacy

[@NehaSingh-px7ni]

@@isolvechess1941 so are you helping people who were not fortunate to get education become literate in any way? Or just calling others illiterate to portray how educated you are. People ,understand if our country is not educated enough it's our responsibility to help those people. Saying my country is illiterate shows how irresponsible we are nothing else.

[@sricharan7874]

Thanks for the video bro for making me understand the process

[@YashAhuja000]

You have collected a lot of data. Thanks for such a informative video. Knew about this stuff but loved to hear details from you. #thethinkschool♥️

[@Saimi_Khalid]

"Buying Unnecessary products to impress Unnecessary people" is one of the major cause of debt trab in BNPL🤣🤣

[@vishals5787]

Had started using BNPL before lockdown. During lockdown I stopped getting my pocket money which led to me falling in the debt trap by repaying loans by taking loans. It has increased so much that i'm still paying from the last 1 year.

[@mdmoruzz]

How much penalty and interest is charged by this services if the payment is defaulted can you explain?

[@pranaytejakaram2609]

@@mdmoruzz one of my frnd took credit of 14k ,the due date is over now he unable to repay loan ,now app management is tourchering him to pay for 14k loan, they charge 2k per day as penalty, they editing his pics into nude and forwarding to his contact list peole,they hacked his phone ,plz don't use slice cards

[@mdmoruzz]

@@pranaytejakaram2609 I have heard about the sending nude kind of thing, but slice does it? 😱, and also 2k per day?

[@mdmoruzz]

@UC_LqPN5sCCBdbZrnPMKzSrQ and you are how many days late?

[@pranaytejakaram2609]

@@mdmoruzz it's of my frnd , don't know about dates

[@AkhilAniyan]

I cannot stop watching your videos. Well explained "facts"! Good work, bro!

[@YuvarajKugor]

Great information. Thanks Ganesh :)

[@arpitvyas281]

Insightful video, as usual. Just one thing, PPI stands for Prepaid Payment Instruments. Just in case someone hasn't already pointed that out.

[@RahulSingh-ij2ep]

FYI, Kunal Shah was first person who introduced me to your channel. Here we are. Congratulations Ganesh and team. Keep growing and providing the valuable knowledge.👌🏻✌🏻✌🏻

[@abhijeetporwal1049]

Thank you for sharing it was highly insightful.

[@vikashsingh-ps3ll]

Great video, important information, and last but not the least the valuable advice of not to misuse the service. Hats off 👏👏👏 Thank you

[@mintygaming1973]

Thumps up for the knowledge and facts just wanted to say this channel made a case study on cred and today cred is sponsoring them 📈

[@Vysakh_Namboothiri]

I'm really impressed by the content your channel is offering. Thank you for all the wonderful information 💙

[@animeshjain7802]

Very nice and informative content. Please keep posting such videos.

[@abhijitv]

Really good info! keep it up

[@manjeshjaibheemraosaheb3015]

One of the finest content KZbin creator i didn't miss a single video ....Your views helped me discuss things with maturity to my friends and family ....I even subscribed one of my friend to you ....

[@manjeshjaibheemraosaheb3015]

Tq Ganesh

[@kalebj7001]

Very well presented 👍 informative and a required video for today's audience. When the BNPL was rolled out in india, the fears of dues, delay, non-payment was very much prevalent after seeing it's effect in a country like USA, albeit it is indeed a boost for indian consumerism especially when it has an inequal income dispersed population. Financial maturity and responsibility is vital when PPI are circulating in a larger demographic that bears risk. However RBI has to be mindful that it doesn't see threat similar to the NPA crises when it comes to PPI management. A regulatory organ of the RBI is very much needed to tackle such problems.

[@gyanpandit21]

Very well organised video

[@ishanthakur5673]

The way you research, narrate, video graphics, and chronological order of presentation is at par amongst the best in corporate world not only in india but at global level. More power to you!

[@Sudha03]

it might go like the housing crisis in 2008 if they allow purchasing anything in bnpl without credit or lesser to consumer capabilities

[@rohankrdas]

Dude you are comparing things blindly without any context here. Just go read and then comment with some knowledge

[@jyotichoudhary817]

Present buddy ❤️ Loved it ❤️ Thank you for your efforts both of you ❤️ Ye Dil Maange More ❤️

[@shubhamsrivastava1972]

This channel is gold ♥️ Kudos team 🙌🏼

[@urschandu123]

Wow.... That was very detailed and structured explanation. For people who are not into Financial terminology.. this video helps.. Thanks

[@bikkusah7827]

correction 3:34 now slice charges if you split the payment in 2 or 3 or any month so pay in the same month if do not want to pay extra charges .

[@captainvenom7252]

Slice charges only when the payment is split in parts and repayment is delayed. Am i getting it correct?

[@bikkusah7827]

Correct

[@harishgupta46]

One more thing I feel can happen is, BNPL raises the Demand. Due to which the companies can now raise their prices due to increased customer expenditure. This, basically leads to inflated prices of goods aka Inflation. Not very sure about my theory but that's what I felt can also be another reason for RBI to look and get into this BNPL credit load system.

[@romeysaini3261]

You’re right. Sudden shoot up of demand absolutely leads to rise in price of commodity.

[@harshitseelam]

Man... you are literally lit..💥💥 How do you even gather that much content

[@aroraprince508]

Good message at the end👍👍

[@sushanthkumarreddy388]

One more major reason why RBI is taking this step NOW is to reduce INFLATION. By tightening alternative credit lines, overall public consumption would decease, thereby controlling the liquidity in the economy.

[@tq4840]

Then it's the worst way or say its a poison pill

[@worldofvikram]

Do you even have a clue of what you're saying?? 🤦‍♂

[@tipushaikh5643]

The once case study topic is now your sponsor. THIS IS WHAT GROWTH REALLY IS 🙌 Proud of you brother been here since the start❤

[@sakshimathur1178]

Learnt so much from your videos. Great initiative 👍.

[@samyakjain3225]

I never seen a person who explain each n every topic in such a manner... bro hats off to you... amazing teaching skill and much appriciate your content. keep ahead brother.

[@mathrubhumi3459]

Any things which is not Fully Understood, Misunderstood, mis Information will lead to disaster. Even Credit Card become burden if you are not using it Properly. Buy Now Pay Later is a Good Concept. You use it Caution. A Fire can bring a Light in a House or House Set on Fire, it is not Fire 🔥 mistake, it is User mistake who invited Trouble without understanding it. Hope things got understood 👍

[@adarshpatil71]

👀🤝🏻

[@SumitPalTube]

Absolutely.

[@prabhudhoni7514]

Please do an episode on Vasmol. It was widely prevelant before 7 - 8 years, but we can barely see it in shops.

[@yaswanthravuri8450]

The reason I watch your every video ; 1.crystal clear explanation of the topic , even a person as dumb as me can understand easily. 2. Simple and Precise ( no other drama)

[@NehaSingh-px7ni]

Thanks for the valuable knowledge.

[@nandishwaran3372]

Actually I'm 20 years old. I got approval from Amazon pay later with 0 Credit score.... After that I used to recharge by dad's mobile phone for Rs.155 p.m. Repeating this for 8 months, my credit score ended in 775 points... So It's a great opportunity to build credit score if used properly... And I'm happy with that 😉😀

[@vishaln1970]

From doing a case study on CRED to now getting sponsored from CRED . Think school has come a long way.

[@gouravchatterjee8953]

informative as always!

[@SantoshKumar-td2wb]

Thanks Sir to remind us ❤️ Giving a idea

[@santhilkherwal7327]

From making case study on cred to getting sponsorship from cred, this channel has come long way through

[@dhavalshah9449]

Another great video Ganesh. One thing worth mentioning was these cards bypass Visa/Mastercard/RuPay channels and thus it benefits the merchants and banks. Looks like RBI is getting influenced by these lobby of intermediaries ? These are wonderful instruments, .. people should just use them responsibly !.

[@tech-hseran9901]

Very good information, thanks a lot

[@malharsharma61]

Your videos are standard material 👍🏻 Really appreciate 🥳

[@chananarocks]

Did the increase in order value also take into account the increase in durability and usability in terms of function and appeal for the consumer as well? Ofcourse, it's hard to quantify that by the BNPL facilitator across a varied segments and brands of products and services hosted on it's platform. Also it could make those brands uneasy in a fast-fashion market to state to accept flaws in it's lower valued products. But we can't have a discussion about the order value without taking into account how it affects the future replacements for the customer now, can we?

[@frankmuth1552]

Successful people don't become that way overnight. Most people you see as glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray anyone who reads this will be successful in life

[@savannaliwanu2054]

It's obvious a lot people remain poor due to ignorant because of not having the knowledge that forex market is the only profitable investment you can ever think of doing

[@savannaliwanu2054]

Well, for 7year now i have trading forex and i know what forex trading have done for me and my family

[@adamswei3167]

Bitcoin is one of the most profitable trade that can earn huge profit today and still make you broke tomorrow

[@adamswei3167]

You know people after investing on bitcoin because of lack of knowledge those we not sell the bitcoin and get the money into their bank account some of them we store the bitcoin in their wallet instead of selling coin or convert it to USD

[@soniairal835]

Is not about ignorant but due to lack of unprofessional and trustworthy trader No doubts, but they're still good and trustworthy expert out there waiting for an investors

[@dimplevora3060]

Awesome Video Really Loved It😃

[@chauhandivyansh9416]

This video is so perfectly curated.

[@dynamicpanda9318]

Acc to me, it should be regulated, not banned completely. Paying money in installments is actually helpful to many people on critical points. Regulators can consider age and history as part of credit limit allowed. From what I see, it's another attempt to block credit from capable poor people and small banks, allowing it to be in the hands of big banks and rich people only.

[@tashas6000]

That is EXACTLY how I feel!!!!! It’s an attempt to shut out the people that the big banks and credit card companies don’t have time for and it’s actually unfair. If I don’t want to put my purchase on my credit card or save the money to buy it that doesn’t mean I DON’T deserve it, it means I can fully control HOW I want to pay for what I want, when I want. JMO

[@parvsand7550]

Okay, 1 thing is very much clear that if you will use BNPL responsibly it is a lucrative concept to use. But as Human wants are unlimited people just use this irresponsibly. Thus getting into a debt trap.

[@nizham12345]

Nice episode. There is a reason why credit card companies vet people before issuing cards. What's sad is the same banks finding back doors through startups to issue credit to people who they would not if they walked through the same bank front doors. This is going to be a huge problem in India and its good the RBI is at least identifying an issue

[@crysis007]

Amazing explanation 🙌

[@kambampati]

Honestly I don't find any new risks with this BNPL. All points about unnecessary increase of expenditure, Interest charges etc are all existing for credit card also. Both credit card or BNPL are opportunities for disciplined customers and risk for irregular customers. RBI doesn't need to take any actions for this,I suppose

[@rishavbhowmik8163]

Nope it does not, because you Credit limit effects your CIBIL scores. So in India's it's difficult to get bankrupt with just credit cards. Also credit card solve a very import safety aspect, which is you can raise disputes on small issues which are not worthy of your time and court's time. But BNPL are doing opposite, you are bound to pay. Money collector and seller are different people in this case.

[@rishavbhowmik8163]

RBI needs to take action, so the people don't go bankrupt, as that will worsen people's purchasing power and ability to take loans for important things in life. You can close your eyes, but RBI has some responsibility. People are not smart. In USA some states have 15days pay policy (not 30 days), so that people don't spend it all at once. In India there are so many poor people who would take all their saving to home town, blow all their hard earned saving... and come back with empty pockets. While very few save money bit by bit... build home, afford education....(but they are very few)

[@pranavpatil1362]

the only bnpl is ever signed up for was simpl, that too because they don't take a loan on your name(usually what bnpl companies do), and i only use it when i m getting discounts due to it, further i pay the simpl bills with my credit card and i earn good amount of rewards from it. Finally cherry to the cake i pay my credit card bills through cred and cheese the entire system responsibly 😜

[@_bharathab5806]

Is simpl going to get affected.. I am also using simpl from last three years... It's very useful...

[@swapnilmahangaretechietrav3283]

Thank you brother for such a good content❤

[@sanchaytuteja7619]

Thanks for making video about this, this news was very hyped ever since it came but I couldn't understand why it was so hyped up but now thanks to this channel, I have understood both sides of bnpl

[@nikhilpathak5304]

You explained so well. Thank you bhaiya.

[@ershavirafroz8358]

Great content. Information topped

[@Saivarun5404]

From making a video about cred to getting cred as sponsor👏👏

[@aradyaiyer2104]

From blowing up and going viral with the CRED video to getting a sponsorship from CRED we have come a long way. Congratulations Think School. This is very well deserved. Also super excited for the launch of the hindi Channel!

[@jioboy2676]

Do you work with TS??

[@vishalkannan.m6846]

Crystal Clear Explanation ♥️♥️♥️♥️

[@ybchannel9158]

This make sense to me thank you ☺️

[@abhinavverma9032]

Just an update of Uni here. Uni has always been very selective when it comes to customer onboarding. Because of the default rate in the BNPL market the company chose to roll out to only specific people and was about to launch a different product for people who were on waitlist or didn't get the card.

[@awdhootkanawade]

The move done my RBI is good for short time but in long time RBI is targeting wrong issue You can yet in trouble by using regular credit card or loan from friends The long term solution for this problem is to include financial discipline and taxation in highschool curriculum to make our youth more financially aware

[@ashutoshgarg9126]

Last 2 minutes advice was great and he talked about it in previous videos.

[@poonamsaroj937]

Really easy to understand

[@tanvijain.]

Rbi trying to control inflation by increasing interest rates thus reducing spending power but BNPL enhances spending power and makes RBI moves to control inflation ineffective.

[@bhargavprajapati611]

I guess it has nothing to do with inflation control...

[@rufinojoseph6325]

It can be one of the reason to control the inflation which India as well as other countries as going through. We have already seen RBI responding proactively to this by increasing the interest rate. BNPL services are being provided by various non banking firms. Most of them are linked to non Indian banking sector. Now even in offline shopping service we have Indian banks and Indian financial institutions providing BNPL services. Whereas in the online shopping sector these non banking sectors which are providing BNPL services are mostly affiliated to foreign companies are taking over the market and entering to the Indian credit system via this loop hole which was present till now. Wise decision by the RBI which proactively looked into this issue and came with a solution and regulate it. Otherwise these kind of loop holes will lead our people to a serious debt trap in near future. Just my thoughts. Nothing against anyone. Thanks

[@rufinojoseph6325]

Do give you thoughts on the comments

[@amanshukla8372]

Bro I literally didn't own any credit card but I own these type of buy now pay later card.. I have just relaised I have Flipkart pay later account with 25k limit, postpe account with 10K limit, simple account with 15K limit and Slice card with 20K limit. Eventually In past 1 year I have made purchases which I didn't needed I have ordered food worth 22000 using postpe and simple in a year, Bought items worth 30k from flopkart pay later and started consuming alcohol using Slice card's limit... I have managed to do payment buy just transferring money from one card to another. It sucks man.

[@unknownrealms8452]

does this loophole works 😮 great

[@avaneeshdash]

@@unknownrealms8452 it shouldn't, the regulations stops "loan and repayments" to be done via credit/pre-paid cards so its practically impossible.

[@DhirajKyawal]

There's no way you can pay off one card using the other, mister!

[@amanshukla8372]

@@DhirajKyawal I use Paytm and cred rental payment for same it cost me 1.5% of each transaction I make Mr.

[@hreedishkakoty6771]

Hi Ganesh, this is an excellent video, more because younger lot in their teens and early twenties need to understand that money is never free, and any debt is going to bite back. This, I feel, is more a awareness video on top of being accurately informative about the BNPL industry. My only suggestion is, maybe you could have included some parallels between dangers of BNPL and what happened in US in 2008 when people who could not afford house loans were given loans, and the default of those loans led to an economic crash. There are useful lessons in the past in the world economy that we can learn and resolve not to make those mistakes in India. Kudos to your hard work on such topics and always waiting for the next one.

[@akhileshmehadia2534]

This is the education the youth needs. Financial education is really important in today's world but unfortunately we have very few educators like you.

[@rahulagarwal6887]

Ganesh - BNPL used to buy unnecessary stuff for unnecessary people will cause you trouble. 20 year old kids - But I am using BNPL to purchase gifts for my internet gf/bf 🤣