Chennai: a surge in high-value purchases and stronger traction among Millennials for Emi’s facilities’ buy now and pay later it has caused an e-commerce site like Flipkart to increase the credit limit before the upcoming celebration season.
Homegrown E-Commerce Marketplace Flipkart has now extended the credit limit of up to RS 70,000, from the previous limit of Rs 10,000, with a flexible payment plan with tenures for up to 12 months.
EMIS, which is available under the product ‘Flipkart Pay later’, can be paid back over flexible tenures 3, 6, 9 and 12 months for customers who meet the requirements, allowing them to buy this celebration season product.
Head of Fintech Group and Payment of Ranjith Boyanapalli said, “Many high-value purchases are made during the celebration season and we have strengthened our EMI offering to ensure that customers can manage financial and expenses wisely during this period.
At the moment, we will Continue to explore partnerships that can help customers improve their lifestyles with affordable.
“Flipkart will also offer EMI Offers at no cost in various kinds of products, as well as EMIS standards – in partnership with 18 leading banks and financial companies.
Satisfied for each EMIS and EMIS standards will be up to 12 months and 36 months.