Flipkart is aiming to make things cheaper and affordable to people and has some new strategy that could change the online shopping game completely. The e-commerce website is reportedly partnering with Bajaj Finserv to introduce no-cost EMI options to its customers.
The new option of ‘no EMI’ will enable customers to buy a select range of electronic goods. The option enables a customer to buy the goods with zero down payment and zero interest on EMI options.
Flipkart claims that there will be no hidden costs and the scheme will be available with select brands and sellers and on select products only. The offer is from 3 months to 12 months only.
The reason for going with the new scheme is to make goods more affordable to its customers. Flipkart states that less than 1% of Indians have access to credit cards and personal loans are slower than usual in the banking sector. Many brands have also shown interest in the new scheme which will help make products highly affordable for customers and will also help brands push for higher sales.
Apart from zero down payment and zero interest on EMI, the new scheme will also offer zero processing fee, making this a fruitful option for brands and sellers as well as a lucrative option for customers in need of products.
Flipkart's No Cost EMI entails zero processing fee, zero down payment and zero interest for customers, the statement said. This offer is currently available on mobile app only and will be gradually introduced for website purchases. Customers opting for it will need to have purchase card issued from Bajaj Finserv.
