Simpl – The fintech startup that makes you forget your credit card

Simpl, an online payment instrument which allows you to ‘buy now and pay later.’ It aims at making transactions simpler than ever, with just a click of a button with your smartphone. It is a technology platform, tie-ups with NBFC’s and banks. You can pay for multiple orders in one go, for a specified period, say every 1st or 16th of the month. It makes payments hassle free and runs on a credit system. Even if you don’t have money at that moment, you can go ahead with the purchase and pay later on. Also, there are no hidden costs, pay what the amount shows and no extra charge from their side.

Founders of Simpl

Chaitra Chidanand

Chaitra Chidanand

Bengaluru-based Stanford graduate, Chaitra Chidanand aged 35 was unable to get a credit card facility in India as she resided in the US. It took her multiple visits to banks and numerous form fill ups to finally get a debit card.

Nitya Sharma

Nitya Sharma

Similarly, her husband’s friend, Nitya Sharma, a Master’s degree holder in finance from the University of Michigan, aged 37 also returned to Mumbai from New York. He too had troubles opening a bank account and three weeks to get a platinum card.

They both thought of the condition of online payments’ efficiency even after the rise of e-commerce platforms. Putting their minds together, they came up with a ‘simple’ plan and thus in March 2016; they launched ‘Simpl.’

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How does it work?

If you decide to book your tickets from BookMyShow, when you get to the checkout option, you see an option called ‘pay later with Simpl.’ Your amount is immediately deducted from the credit limit Simpl has offered to you. The bill has to be cleared every 1st or 16th. Your account is linked with your phone number. This means the more you buy, the more your credit limit increases. Also, once you connect your account with Facebook, the limit increases a bit.

As of now, one can use the app only by the customers approved by the merchants. Means, the more you use BookMyShow, the more are your chances of getting a Simpl invite.

Simpl Team

Simpl Team

The team’s main aim is to make the app, fastest and easiest to use among all other options. “We’re the ones making the one-click checkout possible,” says Chaitra. “Forty percent of transactions via credit card fail using a mobile device. With our app, only one percent does. We do all of our authentications in the backend because numbers and alphabets and whatnot shouldn’t interfere with a customer’s experience of paying. It’s fast and seamless.” she added.

Merchants who accept Simpl

  • BookMyShow
  • Zimmer
  • Faasos
  • Just ride
  • Fresh menu
  • Hola Chef
  • Nykaa
  • Zipgo
  • Ressy
  • Behrouz biryani
  • Redwolf
  • Twigly
  • Genie
  • Racoon Digital

For more information on Simpl, visit their website.

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