Impact on IPDC EZ on market competition and innovation in financial services

Abstract

We all are existing the dynamic world where we all are need to buy different things that we need to live for. Some product has to buy for our daily life and some product that is our outside interest. Whatever we are buying we normally use with our cash or sometimes use credit. But in a Research, we find that 1.62 million people use credit card in Bangladesh. So, only 0.95% people use credit card for using in daily purpose. In this situation, IPDC EZ has brought to Bangladesh the first Buy Now, Pay Later (BNPL) platform aimed at the unbanked and underbanked segments of the population, driving a paradigm shift in the country's financial history. Utilizing its EMI Zero feature, IPDC EZ allows the public to buy goods on credit without the worry of paying for interest unsecured cards, in line with those that are 99.05% are non-credit card users. IPDC EZ fills the gap of cardless EMI for consumer goods by providing small loans of Tk 10,000 to Tk 500,000, and emerges as the first mover in the niche untapped market in this avant-garde category. The result is financial inclusion and access for more consumers to critical and high-order goods without the downside of costly, deferred-payment, supplemented by high interest rates, that help support economic growth and a better quality of life.