Colive, prop-tech platform for rental accommodation, has partnered with ZestMoney-Buy Now, Pay Later platform, to launch ‘StayNowPayLater,’ to offer colivers the convenience of Pay Later/ equated monthly instalments (EMI) on their stay rent.
The partnership enables Colive’s target audience, who are students and young professionals, to access the easy, Pay Later option of ZestMoney.
Potential and current tenants can sign up for a ZestMoney account on the app or website. Being an end-to-end digital platform, they can complete their KYC formalities online and check their eligibility. Even customers with no credit score can apply and are eligible for a credit limit that they can then use seamlessly at the checkout.
Suresh Rangarajan, Founder and CEO, Colive, said, “We have been offering safe and suitable accommodation for our customers ranging from college students, working professionals, couples and entrepreneurs. We realised that some of the tenants who are students or are in the initial stage of their career need safe and reliable financing options. We are addressing this critical need with the partnership with ZestMoney and giving access to customised Pay later options for rent and general deposit needs of our customers.”
Lizzie Chapman, CEO & Co-Founder, ZestMoney said, “Co-living is the go-to option for many millennials as they love the convenience and standardised offering.We see a huge potential for BNPL to address this need in the market.”
ZestMoney offers Buy Now, Pay Later offering from 30 days to 24 months and ticket sizes ranging from Rs 50 to Rs 5 lakh. It is a completely digital omnichannel player that uses Artificial Intelligence and Machine Learning data models to approve new to credit customers.
All customers will be eligible to avail the 3 month no cost option as part of the partnership.
