‘Care Now, Pay Later’ is revolutionizing the healthcare sector in India

New Delhi, Feb.9, 2021: Buy Now Pay Later (BNPL) programs have taken the credit industry by a storm and it is expected to grow into a $50bn industry by 2028 here in India. Currently BNPL offers have largely been confined to financing online purchases, that are largely impulse based categories like apparels, cosmetics, gadgets, food etc., but now a new age fintech company SaveIN has launched an offline BNPL product for financing need-based healthcare expenses, at physical points of care and they are calling it ‘Care Now Pay Later’ (CNPL). With an aim to make healthcare more accessible and affordable, SaveIN has tied up with over 200 healthcare providers in Delhi, Gurgaon and Noida Addressing Key health segments including Dental, Eye Care, Veterinary, Diagnostics, Dermatology, Hair clinics, Fertility, Physiotherapy, Fertility among others.

As part of its growth plans, SaveIN aims to facilitate quality care with enhanced affordability, enabling millions of individual healthcare providers from several different segments to offer instant, point of care flexible payment solutions, thereby building India’s largest integrated healthcare finance ecosystem.

Over 70% Indians prefer to avail private healthcare, so it comes as no surprise that healthcare expense accounts for $40bn of out-of-pocket expense every year, it doesn’t help that insurance penetration in the country is less than 1% of GDP. This results in tremendous financial strain on a large set of population and more so in the case of emergency and unplanned needs. Buy Now Pay Later (BNPL) services in healthcare have a significant opportunity and a much-needed solution for customers and medical providers alike.

Jitin Bhasin, Founder & CEO, SaveIN said,“Indians across demographic profiles are becoming increasingly sensitive to their physical and mental well-being. We at SaveIN are committed to deliver on-demand credit and flexible payment options to Indians, thereby facilitating timely and quality healthcare for all, no matter the circumstance. SaveIN, with a reliable, verified and fast- growing partner network, would offer 100% digital, flexible deferred repayment options at points of care across the country. With CNPL, one can avail zero cost payment options while availing healthcare products and services at providers near them. We have seen tremendous initial feedback from our healthcare partners and customers alike.”