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Flipkart Says Pay Later Credit Facility Has Crossed 6 Million Users in 7 Months

Flipkart Pay Later offers affordability as well as a convenient shopping experience to customers.

Flipkart Says Pay Later Credit Facility Has Crossed 6 Million Users in 7 Months

Photo Credit: Flipkart

With the service, customers can shop and pay total bill amount in part within 30 days

Highlights
  • Customers can avail of credit up to Rs. 1 lakh with Flipkart Pay Later
  • The credit will be provided depending on the user's credit profile
  • Customers can pay the total bill amount through EMIs

E-commerce marketplace Flipkart on Thursday said it has experienced a strong adoption of 'Flipkart Pay Later' credit facility, where user base has doubled to over six million within seven months. The company, in a statement, said Flipkart Pay Later offers affordability as well as a convenient shopping experience to customers and is witnessing an upward trend in monthly sign-ups.

"Flipkart Pay Later crosses 6 million customers witnessing a strong adoption and growth in seven months," it said.

Having recently expanded its offerings, Flipkart Pay Later provides customers credit up to Rs. 1 lakh, depending on the user's credit profile.

"Customers can shop any number of times throughout the month and pay the total bill amount in part within 30 days or through EMIs," the statement added.

According to the statement, Flipkart Pay Later facility enables customers to manage cash flows better through a credit facility with no physical paperwork and zero down payment.

The 30-day credit product has seen "significant adoption" in repeat purchase categories such as grocery, lifestyle, general merchandise and home.

"The longer-tenured EMI options have seen strong adoption in high-value categories such as mobiles, consumer electronics, and large appliances. This payment option currently processes more than three million transactions monthly, 90 percent of which come from repeat customers," it added.


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Further reading: Flipkart Pay Later, Flipkart
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