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

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NEW DELHI: Walmart-owned Flipkart on Wednesday stated it is going to provide credit score choices by way of 17 banks, NBFCs and fintech gamers that may drive credit score accessibility for purchasers throughout the upcoming festive season.

Flipkart is ramping up its fintech constructs so that customers throughout the nation can avail the advantages of simple accessibility to credit score and affordability choices, an announcement stated.

Through 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 part of its commitment to be the online destination for affordable shopping for every Indian, Flipkart is offering affordable credit options through 17 leading banks, Non-Banking Financial Companies (NBFCs) and fintech players on the platform, which will drive credit accessibility for over 70 million customers on the platform,” it stated.

Flipkart stated it has partnered with State Bank of India and with SBI Card to offer debit and bank cards holders a 10 per cent instantaneous low cost, whereas No Cost EMI will likely be obtainable for Bajaj Finserv EMI card holders, it added.

With the launch of Kotak Mahindra Bank and Federal Bank Debit Card EMI cost choice, prospects can now avail pre-approved credit score from seven banking and fintech gamers.

Flipkart stated it is usually launching a Gift Card Store catering to buyer wants throughout 60 manufacturers corresponding 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.

“Through these partnerships and their expansion, we hope to take the promise of The Big Billion Days to more customers to enable meaningful growth,” Flipkart Head Fintech and Payments Group Ranjith Boyanapalli stated.

E-commerce corporations see a big chunk of their enterprise coming in throughout the festive gross sales they usually make important 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 a few of the classes that see big demand throughout the festive season.


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