Online BNPL app QisstPay enters Pakistan

ISLAMABAD: In a bid to facilitate both consumers and traders, QisstPay, a mobile phone app, is bringing Buy Now Pay Later (BNPL) service to Pakistan, a statement said on Thursday.

“We have so far signed with 100 brands in Pakistan and the number will grow more in future” said Jordan Olives, Chief Executive Officer of QisstPay, while launching the app that provides branded products online on installments.

Olives said it was one of the largest online platforms in the USA and it would grow in Pakistan because of its untapped potential.

“With its BNPL service, QisstPay aims to expedite the growth of e-commerce in the country, providing interest-free payment solutions to online buyers, merchants, and business partners.”

QisstPay would allow users to buy products from their platform, ranging between Rs1,500 to Rs35,000 on easy installments, the statement said.

These products included clothing, shoes, fashion accessories and electronics, among other items.

“What makes this BNPL platform truly unique is that these installments are entirely interest-free and do not require extra payment during a transaction.” It said QisstPay would offer masses the freedom to enjoy buying their favorite items at quarter of the price, and pay in installments over four months.

“The app has the potential to promote the businesses of merchants by 60 percent, by bringing in more traffic and potential business leads,” the statement added. “The BNPL initiative is going to transform the Fintech and e-commerce landscape in Pakistan,” QisstPay CEO said.

Olivas acknowledged the challenge that lay ahead in introducing a new and unique payment method in the country but was hopeful that if executed perfectly, BNPL could replace traditional credit cards in the future.

“BNPL lets users buy more things for the same amount, since with QisstPay, they are not obliged to pay for all things purchased at once. It does not charge them any interest fee either. In fact, everyone is free to buy everything, without having to pay any fee to the service. What could be better than that?” said Olivas at a recently held corporate event held for QisstPay in Islamabad.