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Quick commerce unicorn Zepto is providing “exclusive early” access to its BNPL (buy now pay later) offering, Zepto Postpaid, to select users.

The new offering features instant interest-free checkout for bills up to Rs 5,000, according to a popup message on the app. This requires access to the SMS transaction history stored on the mobile phone to determine the spending limit, as indicated in the message.

BNPL allows consumers to purchase goods or services immediately and pay over time in interest-free installments, typically offered by fintech companies or integrated into ecommerce platforms. This payment option aims to reduce the immediate financial burden on consumers, encouraging them to make purchases, including larger ones. It often leads to higher conversion rates at checkout as it provides a more flexible payment solution.

Zepto currently offers ‘pay later’ facility via partnerships Amazon’s Pay Later and Lazy Pay. It recently parterned with Simpl.

It is not clear if Zepto Postpaid has been developed in-house or is in partnership with a fintech firm.

The quick commerce unicorn is sitting on a significant cash reserve following its most recent $340 million funding round at a $5-billion valuation. The latest round comes just two months after it raised $665 million, and a year after securing $200 million at a $1.4-billion valuation.

With continued investment from major players like General Catalyst, Lightspeed, and DST, Zepto has amassed substantial capital to fuel its aggressive growth plans.