Qistbazaar, a leading e-commerce start-up, has achieved the milestone of Rs—1.0 billion in sales in just 17 months since its establishment in November 2021. As a rapidly growing BNPL (Buy Now Pay Later) platform and working as a licensed NBFC (Non-Banking Finance Company), Qistbazaar is committed to uplifting the living standard of all citizens by making over 400 products easily accessible at affordable monthly installments.
Over 15,000 customers have availed of Qistbazaar’s plans to clock up Rs. one billion in sales, with mobile phones, refurbished laptops, refrigerators, LED TVs, motorcycles, and ceiling fans being the most popular purchase items. Customers earning less than Rs. 45,000 per month constitute 57% of total customers, with 70% of customers being below 35 years of age. Micro-business owners like ‘they walls and others comprise over 40% of customers.
“We have crossed a milestone not only for sales but for making a positive impact on the lives of others,” stated Arif Lakhani, co-founder of Qistbazaar, adding, “Our focus is to especially support the population who are unbanked and with zero credit score. 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, we are enabling people to earn livelihoods and grow for themselves.”
The platform provides personalized support to ensure that customers get the help they need. When they need it through a well-trained digital team, eight facilitation centers, and a women’s branch purely catering to women customers, acting as managers.
The growing popularity of the platform can also be attributed to the fact that everyone is eligible to buy at Qistbazaar and not just those who have credit cards or bank accounts. Payments can be made by cheques, online bank transfers, JazzCash, EasyPaisa, and cash on delivery, with early repayments, also allowed.