The cashew-Taro combine will allow consumers higher 'access' to ecommerce
Dubai: The Dubai-based fintech cashew – which offers buy now pay later solutions on consumer purchases – has made an entry into Pakistan. This is through a partnership with Taro, a fintech startup in the South Asian country.
The two will provide low-cost credit to consumers in Pakistan, especially those who are ‘under-banked’, and also help merchants reach out to a wider shopper base.
In the last two years, the buy now pay later fintech movement has come into its own, with consumers getting comfortable using the offers. In BNPY schemes, shoppers can pick up goods such as tech gadgets or appliances on monthly instalments at zero interest. (BNPY offers are also being extended for staycation visits and even after-sales car services these days.)
Taro's CEO Mustafa Khan is a former engineer with Apple and based in Silicon Valley.
“Our collaboration with Cashew provides critical insights into risk, merchant acquisition, operations, and customer retention," said Khan. "Those insights paired with support from their experienced and accomplished leadership team position us for a strong launch and to quickly dominate the market - in Pakistan and beyond.”
Much the same could yet happen in Pakistan. Over the past year, Pakistan’s e-commerce sector has seen a lot of growth, with spending reaching around $7.2 billion.
Taro will provide “easy access to credit for all the citizens and allow increased access to...
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