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ZestMoney’s offline gamble: Can it take on biggies like Bajaj Finance in a cut-throat industry?

ZestMoney hopes to emerge as an alternative to credit cards in India with its ‘virtual’ business model, offering financing at the online merchant checkout that can be paid through EMIs. It’s now eyeing an offline foray as well with a model similar to that of Bajaj Finance. But taking on the biggies would be a stiff challenge.
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artisingh
23 Oct 2019 11 Mins Read 3 comments
Lizzie Chapman, co-founder, ZestMoney; courtesy of ZestMoney
Lizzie Chapman, co-founder, ZestMoney; courtesy of ZestMoney
Consumer spending through credit cards drives many developed economies around the globe. For instance, almost a fifth of the UK’s retail sales came through credit and charge cards in 2018. That figure may be even higher in the US, with more than three-quarters of Americans holding at least one credit card. In comparison, as a developing country, India still
a new funding round in this space as most of them are raising internal rounds for that extra cushion during the downturn. Zest has big plans at a time when the industry is buffeted by headwinds. For now, wait and watch how the story unfolds over the next few quarters. ( Graphics by Mohammad Arshad and Sadhana Saxena)
Consumer spending through credit cards drives many developed economies around the globe. For instance, almost a fifth of the UK’s retail sales came through credit and charge cards in 2018. That figure may be even higher in the US, with more than three-quarters of Americans holding at least one credit card. In comparison, as a developing country, India still a new funding round in this space as most of them are raising internal rounds for that extra cushion during the downturn. Zest has big plans at a time when the industry is buffeted by headwinds. For now, wait and watch how the story unfolds over the next few quarters. ( Graphics by Mohammad Arshad and Sadhana Saxena)

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