E-commerce marketplace Flipkart announced Thursday that it has seen strong adoption of its Flipkart Pay Later credit facility, which has seen its user base double to over six million in seven months. The company said in a statement Flipkart Pay Later offers affordability and a convenient shopping experience for customers and witnesses an upward trend in monthly subscriptions.
“Flipkart Pay Later surpasses 6 million customers and experiences strong adoption and growth in seven months,” it said.
Flipkart Pay Later has recently expanded its offering, offering customers credits up to Rs. 1 lakh depending on the user’s credit profile.
“Customers can shop as many times as they like during the month and pay the full bill partially within 30 days or through EMIs,” the statement added.
According to the statement, the Flipkart Pay Later feature allows customers to better manage their cash flows through a credit facility with no physical paperwork and no down payment.
The 30-day credit product has seen “significant adoption” in categories including groceries, lifestyle, general merchandise and household.
“The longer-term EMI options have seen strong adoption in high-value categories such as cellphones, consumer electronics, and large appliances. This payment option currently processes more than three million transactions monthly, 90 percent of which are from repeat customers.
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https://gadgets360.com/apps/news/flipkart-pay-later-credit-facility-crosses-6-million-users-7-months-2990666 Flipkart says Pay Later credit facility has surpassed 6 million users in 7 months