April 20, 2021

Flipkart: Flipkart bolsters partnerships with banks, NBFCs forward of festive season

NEW DELHI: Walmart-owned Flipkart on Wednesday mentioned it’ll provide credit score choices via 17 banks, NBFCs and fintech gamers that may drive credit score accessibility for patrons through the upcoming festive season.

Flipkart is ramping up its fintech constructs so that buyers throughout the nation can avail the advantages of simple accessibility to credit score and affordability choices, a press release mentioned.

Via these partnerships, Flipkart goals to faucet into the new-to-credit viewers throughout totally different geographies and pin codes and provide them entry to its over 250 million product choices on the Flipkart market, it added.

“As a part of its dedication to be the web vacation spot for inexpensive searching for each Indian, Flipkart is providing inexpensive credit score choices via 17 main banks, Non-Banking Monetary Corporations (NBFCs) and fintech gamers on the platform, which can drive credit score accessibility for over 70 million prospects on the platform,” it mentioned.

Flipkart mentioned it has partnered with State Financial institution of India and with SBI Card to offer debit and bank cards holders a 10 per cent immediate low cost, whereas No Price EMI can be accessible for Bajaj Finserv EMI card holders, it added.

With the launch of Kotak Mahindra Financial institution and Federal Financial institution Debit Card EMI fee possibility, prospects can now avail pre-approved credit score from seven banking and fintech gamers.

Flipkart mentioned additionally it is launching a Present Card Retailer catering to buyer wants throughout 60 manufacturers akin to Joyalukkas, Kalyan Jewellers, Croma, FabIndia and KFC amongst others.

“By facilitating credit score and insurance coverage entry, and simplifying funds for over 250 million prospects throughout the nation, we’re reinforcing our dedication to serving to fulfill their aspirations with out the burden of monetary constraints.

“Via these partnerships and their growth, we hope to take the promise of The Massive Billion Days to extra prospects to allow significant development,” Flipkart Head Fintech and Funds Group Ranjith Boyanapalli mentioned.

E-commerce firms see a big chunk of their enterprise coming in through the festive gross sales they usually make vital investments forward of time to ramp up their capability to have the ability to deal with the spike in orders.

Electronics, vogue and residential furnishing are among the classes that see enormous demand through the festive season.