flipkart: Flipkart increases credit limit under “Buy now, pay later” option to Rs 70,000

CHENNAI: Increase in high-value purchases and stronger traction among millennials for EMI ‘Buy Now, Pay Later’ service has led e-commerce sites like Flipkart to increase credit limit ahead of the next holiday season .
Local e-commerce marketplace Flipkart has now extended the credit limit to Rs 70,000, up from a previous limit of Rs 10,000, with flexible repayment plans with terms of up to 12 months.
EMIs, which are available as part of the “Flipkart Pay Later” product, can be redeemed on flexible terms of 3, 6, 9 and 12 months for qualifying customers, allowing them to purchase products this holiday season.
Its Head of FinTech and Payments Group Ranjith Boyanapalli said, “There are a lot of great value purchases made during the holiday season and we have beefed up our EMI offerings to ensure that customers can manage their finances and spending wisely during the holiday season. this period. In the times to come, we will continue to explore partnerships that can help customers improve their lifestyles at a lower cost. ”
Flipkart will also offer free EMI offerings on a wide range of products, as well as standard EMIs, in partnership with 18 leading banks and financial companies. The terms for Toll-Free IMEs and Standard IMEs will be 12 months and 36 months, respectively.

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