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Business News/ Companies / News/  Flipkart Pay Later credit facility hits 6 million user mark in 7 months
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Flipkart Pay Later credit facility hits 6 million user mark in 7 months

Flipkart stated the longer-tenured EMI options witnessed strong adoption in high-value categories such as mobiles, consumer electronics, and large appliances. This payment option at present processes more than 3 million transactions monthly - of which 90% are from repeat customers.

Flipkart Pay Later is an easy way for anyone to avoid inconvenience during the checkout process. (REUTERS)Premium
Flipkart Pay Later is an easy way for anyone to avoid inconvenience during the checkout process. (REUTERS)

India's e-commerce giant, Flipkart on Thursday announced the credit facility of Flipkart Pay Later has doubled and crossed the 6 million user mark in seven months indicating a strong adoption of the facility among customers.

In a statement, Flipkart 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, reported by PTI.

In seven months, Flipkart Pay Later crossed 6 million customers witnessing a strong adoption and growth, the statement highlighted.

Further, the statement pointed out that the longer-tenured EMI options witnessed strong adoption in high-value categories such as mobiles, consumer electronics, and large appliances. This payment option at present processes more than 3 million transactions monthly - of which 90% are from repeat customers.

Also, the 30-day credit product recorded "significant adoption" in repeat purchase categories including grocery, lifestyle, general merchandise, and home.

On its website, the company mentioned that Flipkart Pay Later is an easy way for anyone to avoid inconvenience during the checkout process. A customer can now buy products on Flipkart, experience using the Pay Later facility, and pay for them before the 5th of the next month with zero additional charges.

Recently, Flipkart had expanded its offering and the Pay Later facility provides credit up to 1 lakh, however, depending upon the user's credit profile.

Flipkart explained that customers can shop any number of times throughout the month and pay the total bill amount in part within 30 days or through EMIs.

It only takes seconds to apply for Flipkart Pay Later. All the customer needs to do is enter their PAN and Aadhaar details and verify the details with the OTP. Once activated, the Flipkart Pay Later option gets available on the checkout page.

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Updated: 19 May 2022, 04:25 PM IST
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