In just 17 months since its inception in November 2021, Qistbazaar, a prominent e-commerce start-up, has reached a sales milestone of Rs. 1 billion. As a swiftly growing BNPL (Buy Now Pay Later) platform and a licensed NBFC (Non-Banking Finance Company), Qistbazaar aims to improve the quality of life for all citizens by providing over 400 products at affordable monthly installments.
During this period, more than 15,000 customers took advantage of Qistbazaar’s plans, resulting in sales of Rs. one billion. The most common purchase items were mobile phones, refurbished laptops, refrigerators, LED TVs, motorcycles, and ceiling fans. Of the total customers, 57% earned less than Rs. 45,000 per month, and 70% were below the age of 35. Over 40% of the customers were micro-business owners like ‘thela walas’ and others.
“We have achieved a milestone not just in sales, but in making a positive impact on people’s lives,” said Arif Lakhani, co-founder of Qistbazaar. “Our focus is to assist the unbanked population with zero credit score. We enable people to earn their livelihoods and grow, from a bunkababwala to an unemployed man buying a motorcycle to become a delivery rider, to a rickshaw driver getting a phone to connect with passengers, or to a gig worker buying a laptop to earn extra income from home.”
To ensure customers receive the assistance they require, the platform provides personalized support through a well-trained digital team, eight facilitation centers, and a women’s branch catering exclusively to female customers. The platform’s rising popularity can also be attributed to the fact that everyone is eligible to buy at Qistbazaar, not just those with credit cards or bank accounts. Payments can be made by cheques, online bank transfers, Jazzcash, EasyPaisa, and cash on delivery, with early repayments also permitted
