Business And Markets

CBI Supports BNPL Schemes  

According to the report, about 4.5 million people in Iran have used innovative lending solutions, including BNPLs. Snapp Pay, DigiPay, WePod and AzKiPay are the major providers of BNPL services
CBI Supports BNPL Schemes  
CBI Supports BNPL Schemes  

The Central Bank of Iran says it supports the growth of "buy now pay later" (BNPL) services because of its acceptable impact on the economy. 
Mehran Mahramian, the CBI deputy chief for innovative technologies, said this week the regulator’s only concern is the interest rate on credit given to users of BNPL platforms, way2pay quoted him as saying. 
BNPL is a type of short-term financing that allows consumers to make purchases and pay at a future date, often interest-free. Such credit schemes are often easier to get approval compared to traditional credit cards or other lines of credit.
"BNPL platforms are gaining popularity because of the credit rating system…The link to a credit rating system addresses the concerns of the regulator vis-à-vis BNPL services," Mahramian said. 


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