Bangladesh-based digital services platform Pathao has rolled out a pay-later product for select users of Pathao Food (the startup’s food delivery unit), with an initial spending limit of 2,000 taka (about US$23.3).
Photo credit: Pathao
After Pathao Food, the offering will be expanded to the platform’s other services. While the company did not specify where the new pay-later product will be supported, it currently offers ride-sharing, taxi-on-demand, and logistics services, among others.
For the offering’s initial launch, users will have to pay the full amount owed within 30 days of the end of a 15-day spending period. Pathao will send regular reminders to its users as repayments approach their due date. If payments are delayed, customers will incur a late charge of roughly US$2.3.
Founded in 2015, Pathao claims to be the largest digital services platform in Bangladesh, having over 8 million users, 300,000 drivers and delivery agents, 30,000 merchants, and 10,000 restaurants plugged into its network.
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“The time is now for consumers in Bangladesh to get the ease of use one expects in developed countries. The launch of the pay-later feature is the first of many steps in that direction,” said Fahim Ahmed, CEO and managing director of Pathao.
Editing by Jaclyn Tiu
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