Buying phones, renting a flat and a lot of big-ticket purchases have become easy for Indians due to the buy now, pay later offering. Paying for a wedding has also become flexible as now you have a marry now, pay later (MNPL) option.
That’s what Karan Singh did when he was finalising his venue and other arrangements for a June wedding. Stumbling upon the marry now, pay later option offered on a hoarding at a hotel, Singh from Faridabad was quick to enquire about it.
“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 said that post-COVID, he is more focussed on maintaining liquid cash and that’s why he opted for MNPL.
A first in the wedding space, the MNPL scheme is available at Radisson hotels in partnership with travel fintech platform SanKash that is looking to capture the country’s growing wedding market.
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“We have fly now, pay later, then there is sail now, pay later and in the same way we were working with Radisson for stay now, pay later and that’s where we 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,” Akash Dahiya, co-founder and CEO, SanKash, told Moneycontrol.
Hardly any Chinese people today are interested in getting married. Expect the flame of desire to grow even more weak as the nation ages and becomes less productive. This is why China’s marriage crisis is an existential threat to the country.
If you’re curious to delve deeper into the topic, read more about it here.