E-commerce market Flipkart on Thursday mentioned it has skilled a robust adoption of ‘Flipkart Pay Later’ credit score facility, the place consumer base has doubled to over six million inside seven months. The firm, in an announcement, mentioned Flipkart Pay Later gives affordability in addition to a handy buying expertise to prospects and is witnessing an upward pattern in month-to-month sign-ups.
“Flipkart Pay Later crosses 6 million prospects witnessing a robust adoption and progress in seven months,” it mentioned.
Having just lately expanded its choices, Flipkart Pay Later offers prospects credit score as much as Rs. 1 lakh, relying on the consumer’s credit score profile.
“Customers can store any variety of instances all through the month and pay the full invoice quantity in half inside 30 days or via EMIs,” the assertion added.
According to the assertion, Flipkart Pay Later facility permits prospects to handle money flows higher via a credit score facility with no bodily paperwork and 0 down fee.
The 30-day credit score product has seen “important adoption” in repeat buy classes corresponding to grocery, life-style, normal merchandise and residential.
“The longer-tenured EMI choices have seen robust adoption in high-value classes corresponding to mobiles, shopper electronics, and enormous home equipment. This fee choice at present processes greater than three million transactions month-to-month, 90 % of which come from repeat prospects,” it added.