Le Moal: Merchants view buy-now-pay-later as marketing, not payment fees
Laurent Le Moal · 667: PayU Passes $180M Revenue, New Risk Assesment Product To Grow Financial Services Arm with Ex PayPal CEO Laurent Le Moal · May 22, 2017 · at 23:43
Laurent Le Moal, CEO of PayU, explains why e-commerce merchants embrace checkout credit products in emerging markets.
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“When you talk to merchants about this, they see it as a marketing. Yes. For them, it's like, oh, it's not the payments. You know, we are not talking about basis point of cost. For them, it's the marketing instrument to sell more.”
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More from Laurent Le Moal
Le Moal: Payment processing could become free in a few years
“All the rest, you could really imagine that in a few years, the payment itself, the processing itself will be free.”
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“We are talking, you know, a couple of hundred millions a year.”
Le Moal: Payments remain fundamentally local and regional, not truly global
“I believe actually that payments are extremely local and regional.”
Le Moal: Traditional bank credit scoring only serves the top 1%
“The banks have done this, you know, but all using the same credit scoring model and basically addressing the one percent of the population that actually do not really need credit.”
Le Moal: 90% of Indians Can Repay Debt but Lack Credit Files
“If you go now to India and you want to address really the 90% of the population they do have the means to repay their debt. They do want, of course, you know, to buy stuff online, so consumption is very high, but they have what we call a very thin file.”