Marry now, Pay later! This company offers EMIs on wedding expenses
Paying for weddings has also become flexible with the new marry now and pay later (MNPL) option offered by this company. Read below
EMIs on gadgets, properties, or ticket purchases might be something you must be acquainted with, but have you ever heard of wedding EMI? Yes, paying for weddings has also become flexible with the new marry now and pay later (MNPL) option.
It was when a man identified as Karan Singh was finalizing a venue for his June wedding along with other arrangements, he stumbled upon the marry now, pay later offer displayed on a hoarding at a hotel. The Faridabad-based to-be-groom was quick to enquire about it.
He said, “I did not want to spend all my savings in one go for the wedding. I called up SanKash to know what they were offering and availed a loan of Rs 2 lakh for a six-month period.”
He added that post-COVID, he is more focused on maintaining liquid cash and that’s why he opted for MNPL.
Shedding light on the organization that provides the aforementioned scheme, he said that it is available at the Radisson hotels in partnership with travel fintech platform SanKash which is looking to capture the country’s growing wedding market.
The co-founder and CEO, SanKash, told Money Control that they already have a fly now, pay late option for those wishing to travel. Then there is sail now, pay later and in the same way, they were working with Radisson for stay now, pay later. It is then that they came across another use case for this plan. “So 20 percent of their (Radisson’s) revenue comes from F&B (food and beverage) and the marriage market is the biggest contributor to it. We did a pilot in Delhi NCR at Radisson Gurugram, Udyog Vihar, where we received over 100 queries in 20 days that were worth Rs 8 crore” the businessman added.
Reportedly, the scheme is available in Rajasthan and Madhya Pradesh, the MNPL offering is being launched in a phased manner across the country, and Dahiya said that by end of this year, the offering will be available in all Radisson hotels.
He also said that they are launching properties in Uttar Pradesh like Agra which is live now, along with hotels in Nathdwara, Jaipur, Chandigarh, and Pune, among others.