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Flipkart partners with 18 banks & financial institutions
September 16, 2021
Flipkart, the e-commerce marketplace, has partnered with 18 banks & financial institutions to offer no cost EMIs and standard credit and debit card EMIs to all clients across range of products.
The tenures for No-Cost EMIs and standard EMIs will be up to between 12 to 36 months respectively. The company has partnered with American Express, Axis Bank, HSBC, Kotak Bank, RBL Bank, Standard Chartered, SBI, among others.
Ranjith Boyanapalli, Head (Fintech and Payments Corp) said, “Many high value purchases are made during the festive season and we have bolstered our EMI offerings to ensure that clients can manage finances and expenses judiciously during this time”.
Apart from that, under Flipkart Pay Later it has expanded credit limit to ₹70,000 with flexible repayment plans with up to 12 months tenures, from a previous limit of ₹10,000, the company said.
Flipkart Pay Later will now be open to all product and will provide credit to over 100mn news customers, it said. To access the facility, users will have to enter their details on the app, and verify those details.
The pay later facility is growing digital payment method quickly on e-commerce platforms in India. It is estimated to occupy 9% of overall market share by next few years.
Important Links:
- Professional Diploma in Banking and Financial Services: https://tscfm.org/courses/professional-diploma-in-banking-and-financial-services/