Flipkart Launched Cardless Credit Days after Amazon came with Pay EMI; it’s offerings and many more needed to know

Flipkart Cardless Credit
Flipkart Cardless Credit


Flipkart on Credit lending: It is a Pay Later Service extension and at the end of the year going to launch. Flipkart Cardless Credit services are very similar to the Amazon Pay EMI launched by Amazon.

Flipkart Cardless Credit is a facility that will let the buyers enjoy the facility of making high-expenditure purchasing without any concern for lacking the credit card.

Flipkart is just purchased by Walmart, the US giant for just $ 16 billion. It is offering credit to the customers up to Rs 60,000. The time period for execution is from three months to twelve months.

Flipkart is on the same page of Amazon Pay EMI after launching Flipkart Cardless Credit services. According to Flipkart, this credit lending solution is to pay later service in extended form.

Amazon Pay EMI
Amazon Pay EMI

Flipkart boasts to assign credit up to Rs 60,000 to its customer in 60 seconds. Although credit amount is going to be available as per behavior of the individual customer in that e-commerce site.

There will two options for the customer- EMI for 3 to 12 months and Pay Later while examining high-priced products. The company has not mentioned still any charge as interest, but against customer availing credit value, there is interest levy but not much.

A customer is able to proceed directly by checking out for Rs 2,000 and below of it. But for a big amount, the OTP is quite essential.

If we go to the history of Cardless Credit Card, we will find that it comes into the display when we realize that Flipkart’ customers around 45 million have no access to get credits, even they are not entitled to that.

We accept that there may be different while talking about purchasing powers of the customers but we also strongly believe that there is no difference in terms of ambition and the quality of products they are ambitious about.

We are finding the challenge that we indulge in sorting out and that is an affordability. Cardless Credit is full of hope because of its potential customers which include the middle-class borrowers. These mobile active middle-class borrowers have no access to credit limits and credit cards.

Ravi Garikipati, Senior VP and head of Fintech Flipkart said “Cardless Credit comes into existence as we understand that close to 45 million customers on Flipkart do not have access to credit, not that they are not entitled to. Amongst consumers, there could be a gap in terms of purchasing power but the gap is not in ambition and quality that they want to own. The challenge is of affordability and that is what we are trying to solve. Cardless Credit will have potential customers including the emerging middle class mobile active borrowers who do not have access to credit cards or credit limits. We will leverage the understanding of these customers’ shopping behaviors and offer credit underwriting in a simple and transparent way, to make their shopping experience affordable,”


Flipkart’s new launch Flipkart Cardless Credit will make any difference when at the same time Amazon came up with its new product Amazon Pay EMI, what do you think? Let us know in the comment box.



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