From The Economic Times · Sutanuka Ghosal · · 1m
Razorpay-backed POP launches credit to monetise UPI users
POP's new credit service targets first-time borrowers with small loans
In brief
POP's new credit service targets first-time borrowers with small loans POPchop offers interest-free 3-month payments for UPI shoppers to bridge cash flow gaps Originally reported by The Economic Times.
POP expands into credit
Razorpay-backed POP launched POPchop, an interest-free 3-month payment plan for small purchases on its shopping platform.
“UPI gives us a frequent relationship with the customer, while commerce shows us how that customer shops and uses rewards. Credit is the next extension of that journey.”
First-time credit users
Over half of POPchop's early users are accessing formal credit for the first time.
Credit demand growth
India's credit-eligible population rose to 74% accessing retail credit by March 2026 from 35% in March 2017.
Small-ticket loans
Consumer durable loans make up 46% of first-time borrowers' loans, with personal loans at 18%.
Partnerships for credit
POP partners with regulated lenders like PayU Finance India and LazyPay for credit services.
Repayment performance
60% of POPchop users returned to place another order within a month, with 94% UPI retention.
What it means
POPchop offers interest-free 3-month payments for UPI shoppers to bridge cash flow gaps
