Flipkart partners with 18 financial institutions to strengthen payment options ahead of the festive season
E-commerce giant Flipkart is preparing for its largest sale season of the year and has partnered with 18 banks and financial institutions to offer no-cost EMIs and standard credit and debit card EMIs on numerous products.
“Many high-value purchases are made during the festive season and we have strengthened our EMI offerings to ensure that customers can manage finances and expenses judiciously during this period,” said Flipkart’s head of fintech and payments group Ranjith Boyanapalli, ET Tech reported.
Flipkart will offer its customers no-cost EMIs for 12 months and standard EMIs for 36 months. The aim of the scheme is to encourage shoppers to purchase goods during the business’ largest sale season of the year, even if they are currently low on funds.
Banks that Flipkart has paired up with as part of the initiative include American Express, Axis Bank, Bajaj Finserv, Bank of Baroda, Citibank, Federal Bank, HDFC Bank, Home Credit, HSBC, ICICI Bank, IDFC FIRST Bank, IndusInd Bank, J&K Bank, Kotak Bank, RBL Bank, Standard Chartered, SBI, and Zestmoney, among others.
Flipkart has also added to its Flipkart Pay Later scheme to enable customers to extend their credit limit to Rs 70,000 ($952.87) from its previous limit of Rs 10,000. Customers can use repayment plans over a time period of up to 12 months. The business aims to on board one million new customers to Flipkart Pay Later.
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