Naga Rishyendar Panguluri, a seasoned software engineer, played a pivotal role in launching a groundbreaking Buy Now, Pay Later (BNPL) solution for the largest e-commerce platform in the USA in November 2021. This initiative redefined digital payments by enhancing security, scalability, and user experience, setting a new industry standard.
The BNPL project emerged from a strategic partnership between a leading fintech firm specializing in credit payments and the e-commerce giant. This collaboration revolutionized the payment landscape, enabling consumers to split purchases of $50 or more into monthly installments. The project not only strengthened the fintech provider’s competitive position but also aligned with evolving consumer preferences, particularly among younger demographics. As the BNPL sector continues to grow, major players like Square are expanding their presence, further underscoring the significance of this innovation.
In this exclusive interview, Naga Rishyendar Panguluri shares insights into his journey, his role in the BNPL project, and how he tackled critical challenges to build a solution generating seven-figure daily revenue.
Can you share some insights into your background and how you became involved in the BNPL project?
Technology has always been my passion, particularly in solving complex engineering challenges. With extensive experience in software engineering and a track record of driving large-scale initiatives, I was eager to take on the BNPL project when the opportunity arose.
Leading this initiative for the largest e-commerce platform in the USA was both challenging and exciting. The goal was to design a seamless, scalable payment method that allowed customers to apply for loans and split purchases into installments directly on the platform. Given my experience in designing technical architecture, ensuring security, and handling large-scale financial transactions, I was confident in delivering an industry-changing solution.
What was your role in the BNPL project, and what made it so groundbreaking?
I was responsible for designing and implementing the technical architecture of the BNPL payment method. This involved integrating the solution into the e-commerce platform while ensuring it remained secure, scalable, and user-friendly.
This project was groundbreaking as it enabled the seamless processing of massive transaction volumes, even during peak shopping events like Black Friday and Cyber Monday. We built a high-performance system capable of handling thousands of transactions per second while maintaining top-tier security and an optimal user experience.
Additionally, the BNPL solution was designed to comply with tax regulations across multiple states and countries, posing a significant technical challenge. Close collaboration with legal and financial experts was necessary to develop a system that accurately calculated the correct tax for each purchase.
What were some of the biggest technical challenges you faced, and how did you overcome them?
One of the biggest challenges was enabling real-time loan approvals alongside robust fraud detection. I developed a system capable of analyzing customer data in real time, allowing us to assess credit risk and detect fraud within milliseconds.
Another major challenge was handling tax adjustments due to address updates after an order was placed. For example, if a customer updated their address to a different state with a different tax rate, the system had to adjust the installment amount without disrupting the order fulfillment process.
To address this, I created a dynamic tax calculation engine that could update taxes in real time based on the customer’s address. This complex process required close collaboration with legal and financial teams to validate address accuracy and ensure the system complied with both state and federal laws.
Finally, scalability was critical. I overcame this by designing a microservices architecture and cloud-based infrastructure, which enabled us to scale resources up or down based on demand. This approach allowed the application to smoothly support thousands of customers, particularly during peak periods like the holiday season.
How did the BNPL project impact the e-commerce company and its customers?
The impact was significant. Within the first few weeks of launch, the BNPL option quickly became one of the most popular payment methods on the platform. It not only helped generate record-breaking revenue but also boosted customer retention by offering a flexible payment option. For customers, it was a game-changer. The project also contributed to higher sales and received substantial media coverage from major platforms, highlighting its success and innovation.
Throughout the holiday season, from Thanksgiving to New Year, the BNPL solution consistently generated high seven-figure daily revenue, making it one of the most successful launches in the company’s history.
What’s next for you in fintech? Are there any upcoming projects that excite you?
I am currently working on expanding this payment method in Canada, with plans to introduce it in several South American countries.
Moving forward, my focus remains on advancing fintech innovations that prioritize security, scalability, and user-friendliness. The success of the BNPL project has motivated me to take on new challenges and contribute more significantly to the industry’s growth.
Naga’s work on the BNPL project exemplifies the transformative power of software engineering in fintech. By leveraging technical expertise and a customer-centric approach, he has set new benchmarks in digital payments.
As the fintech landscape continues to evolve, Naga remains at the forefront, pushing the boundaries of innovation. His contributions not only enhance the consumer experience but also reinforce his position as a leading figure in the industry. Click here to visit Naga Rishyendar Panguluri’s LinkedIn profle.
