Flipkart’s ‘Pay Later’ offering witnesses strong growth, crosses 42 million transactions
Walmart-owned e-commerce major Flipkart’s ‘Pay Later’ credit offering has witnessed strong growth over the last few months and expects to double its growth by end of this year.
The credit system has already crossed 42 million transactions since its launch and expects to cross the 100 million transactions mark by end of this year.
Flipkart claims that around 2.8 million users have used the Flipkart Pay later offering at the time of checkout and the service has helped it increase its registered customer strength by 50 percent as compared to last year.
Commenting on the growth, Ranjith Boyanapalli, head of fintech and payments group at Flipkart, in a statement said: “As a homegrown platform, enabling accessibility and affordability for customers is at the heart of all our offerings. The success of Flipkart Pay Later so far has shown the benefits that the construct is able to provide to millions of customers and made us confident of its market-readiness for a much wider adoption -both on and outside the Flipkart Group platforms."
“By expanding the offering, we want to enable customers across the country to fulfill their shopping needs in a seamless and hassle-free manner,” he added.
Flipkart Pay Later offers its customers convenient and affordable credit solutions for their shopping needs. It is a 30-day credit product that does not have an interest fee.
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