Indian FinTech company SaveIN has launched a paperless buy now, pay later product called Care Now, Pay Later that will break healthcare expenses into more affordable payments.
SaveIN has collaborated with more than 100 healthcare providers in Delhi, Gurgaon and Noida to work on dental, eye care, veterinary, diagnostics, dermatology, hair clinics, fertility, physiotherapy and other segments.
Care Now, Pay Later gives providers the option to offer flexible payment solutions, helping India expand its integrated healthcare offering to more people across the nation. Indians spend more than $40 billion on healthcare every year, with about 95% of that total coming out of their own pockets.
“Indians across demographic profiles are becoming increasingly sensitive to their physical and mental well-being,” said Jitin Bhasin, founder and CEO of SaveIN, in the company announcement. “We at SaveIN are committed to deliver on-demand credit and flexible payment options to Indians, thereby facilitating timely and quality healthcare for all, no matter the circumstance.
“SaveIN, with a reliable, verified and fast-growing partner network, would offer 100% digital, flexible deferred repayment options at points of care across the country,” he said.
Elective healthcare in India is a $20 billion market, with optical/eye care, dental, diagnostics, veterinary, cosmetics and fertility among the largest categories, each growing 10 to 25% every year. Most of these services are not covered by insurance or instant credit programs.
“With a vision of providing timely care for every Indian, SaveIN is all set to revolutionize the way healthcare is delivered and consumed in India,” said Bhasin. “We will be creating a win-win proposition for both providers and consumers. Providers will be able to service more customers, experience superior customer retention, and better cash flow management.
“Whereas a customer would be benefited by availing quality and timely care without burning a hole in their pockets. The entire process can be completed in under 60 seconds, making it a seamless payment experience,” he said.
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