Simpl records highest growth from rentals and e-commerce in last 6 months

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  • The rentals segment drove the maximum transaction value from April to September 2022, followed by e-commerce (111%) and automotive (83%) 
  • Growth from these segments solidifies Simpl’s understanding of key consumer trends

Bangalore, 14 October 2022: Simpl – India’s favourite checkout partner – has recorded the highest growth of more than 127% from the rentals segment during April-September 2022. An increase in transactions from e-commerce platforms recorded the second-highest growth with 111%, automotive at 83% and fashion accessories at 75% during the same period.

Commenting on the growth trajectory from these segments, Nitya Sharma, CEO & Co-Founder, Simpl said, “We have seen an uptick in demand for consumer products, especially on e-commerce platforms, over the past few months. This growth validates our understanding of consumer trends. We have achieved these high volumes on the back of strong consumer demand. This has encouraged us to make the user experience more seamless and frictionless for all our users. Seamless checkout enhances the consumer’s shopping experience while significantly reducing cart abandonments, decreasing dependence on cash on delivery and eliminating operational inefficiencies for our merchant partners.”

During this period, other segments reflecting good growth were travel (70%) followed by entertainment (45%). Simpl believes that consumer demand will continue to be strong in these domains for the remainder of the year.  India’s leading checkout platform plans to focus on product expansions and feature extensions along the value chain to enhance the end consumer experience.

User experience, trust and speed continue to remain the three fundamental friction areas in e-commerce. Simpl is reimagining how online payments can be seamless and frictionless to enhance the overall consumer experience. It is relentlessly working towards building a set of new merchants and consumer-facing products that will enable zero-friction e-commerce experiences, with minimal cart abandonment and low return frequency.