An extension of the company's "pay later" program, Flipkart's initiative aims to enable the millions of customers without access to credit to shop more conveniently

Paying by credit is usually a simple, efficient and speedy alternative to using cash, but for around 45 million Flipkart users in India, paying by credit is not a readily available option. To solve this problem, the electronic commerce company is allowing customers to access up to Rs 60,000 for periods of three and 12 months, just days after Amazon India unveiled plans for a similar cardless credit service.

Based on users’ credit and shopping history with Flipkart, this service will make the purchasing process much simpler for the company’s many customers. At the checkout, shoppers can choose to pay using EMIs or pay later; however, the interest rates on these types of purchases have yet to be revealed.

While this cardless credit program could be seen as Flipkart’s attempt to get a step up on rival Amazon, Senior Vice President Ravi Garikipati sees it rather as an attempt to make the company and its products more accessible to its many customers without access to credit cards, thus widening its consumer base.

Flipkart


Lead image: smartphone with Flipkart app stock photo from Faizal Ramli/Shutterstock

Paying by credit is usually a simple, efficient and speedy alternative to using cash, but for around 45 million Flipkart users in India, paying by credit is not a readily available option. To solve this problem, the electronic commerce company is allowing customers to access up to Rs 60,000 for periods of three and 12 months, just days after Amazon India unveiled plans for a similar cardless credit service.

Based on users’ credit and shopping history with Flipkart, this service will make the purchasing process much simpler for the company’s many customers. At the checkout, shoppers can choose to pay using EMIs or pay later; however, the interest rates on these types of purchases have yet to be revealed.