SSLCOMMERZ and CASHe Alliance forge a transformative Buy-Now-Pay-Later partnership

SSLCOMMERZ and CASHe Alliance announced today (Thursday) their first-of-its-kind memorandum of understanding for developing a strategic partnership offering Buy-Now-Pay-Later (BNPL) services to millions of consumers and merchants. Through this unique collaboration between two industry leaders, they will combine their resources and expertise to democratize online retail in Bangladesh. SSLCOMMERZ can enable its network of 100,000+ merchants to add BNPL as a payment option for its consumers, giving shoppers the ultimate financial freedom to buy according to their aspirations and payback conveniently and securely. SSLCOMMERZ plans to scale its platform to reach over a million merchants, all of whom could offer BNPL to its consumers, which will transform the country's consumer spending landscape. CASHe Alliance's modular, scalable, and world-class technology uses alternative data sources to assess the creditworthiness of digital consumers in Bangladesh. This technology enables the participating Bank(s) and Non-bank financial institution (NBFI) to make better lending decisions regarding BNPL products for its consumers. This industry-defining partnership will benefit customers and merchants by increasing customer lifetime value, lower customer credit risks, and transforming customer experiences by making access to products and services affordable. Ahmed Kamal Khan Chowdhury, Group Advisor, SSLCOMMERZ, said:"BNPL and nano loan in fintech industry is a very dynamic, fast-moving space. We are the largest payment aggregator in Bangladesh and a pioneer in the fintech space since 2010. As the market leader, we want to keep innovating for our customers, and that's why the SSLCOMMERZ-CASHe Alliance partnership will be a powerful combination." Deepak Saluja, co-founder, group CEO of The Social Loan Company (TSLC), and Vice-Chairman, CASHe Alliance Limited, said: "The consumer-oriented BNPL industry will exceed US$1 trillion in annual gross merchandise volume globally by 2025. We are proud to be offering this innovative integration of our credit decisioning engine that will enable our partner bank(s) and NBFI(s) to offer BNPL to 100,000+ merchants in Bangladesh through our partnership with SSLCOMMERZ from day one and ultimately scale it up to million merchants. We have a proven tech stack and solution architecture that will support our big move into this exciting and untapped consumer financing niche in Bangladesh. We have had great success in deploying this tech stack with TSLC's subsidiary company in India. CASHe is India's leading financial wellness focused lend-tech, has over 20M consumers on its platform. Together, working as one team with SSLCOMMERZ, we want to transform the country's payments and consumer spending landscape by augmenting our merchant partners' outreach and market share and giving our young, dynamic Bangladeshi consumers affordable access and freedom to shop and pay, their way."