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.
You don’t have to worry about the money required for the wedding. They will pay whatever the cost. After that you can pay it as EMIs.
Adults say get married and see.. build a house and see. Indeed these two are major moments in everyone’s life. Both are costly. Especially since it is a once-in-a-lifetime celebration, some people will not hesitate to spend any amount. No matter how simple the wedding is, it costs up to 5 lakh rupees. A bit grand i.e. 10, 15 lakhs and the amount keeps increasing.
No matter how much they spend, they ask for more. But according to one’s desire, they spend. Many people dream that my wedding should be done like this.. It should be done like that. But only a few can make them come true. Some people’s finances do not support this. A scheme is now available in the market for such people. You don’t have to worry about the money required for the wedding. They will pay whatever the cost. After that you can pay it as EMIs. Isn’t the scheme good! So where is that scheme? Who manages? Where is it held? Let’s know the complete details
It was when a man identified as Karan Singh was finalizing a venue for his June wedding along with other arrangements, he stumbled upon the marry now, pay later offer displayed on a hoarding at a hotel. The Faridabad-based to-be-groom was quick to enquire about it.
He said, “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 added that post-COVID, he is more focused 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.
“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.
Reportedly, the scheme is available in Rajasthan and Madhya Pradesh, the MNPL offering is being launched in a phased manner across the country, and Dahiya said that by end of this year, the offering will be available in all Radisson hotels.
He also said that they are launching properties in Uttar Pradesh like Agra which is live now, along with hotels in Nathdwara, Jaipur, Chandigarh, and Pune, among others.
