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E-commerce companies are expanding their buy now, pay later (BNPL) offerings to attract more shoppers, with Flipkart on Thursday launching 'Flipkart Pay Later', a checkout-integrated credit service that allows customers to defer or split payments across its platforms.
According to the Indian ecommerce player, the new offering, launched in partnership with PayU Finance, is available across Flipkart, Myntra and Flipkart Minutes. It provides three repayment options - up to 30 days to pay for everyday purchases, a "Pay in 3" facility that splits the bill into three payments, and EMIs ranging from three to 12 months for higher-value products such as smartphones, electronics, appliances and furniture. The company said the service is aimed at both everyday shopping and larger purchases, with credit integrated directly into the checkout process. "Affordability remains the core driver of how millions in India engage with digital commerce. For these consumers, aspiration has never been a constraint, access has," Vishal Ahuja, Executive Director, Flipkart Finance, said. "As pioneers of easy financing, with Flipkart Pay Later, we are putting a decade of commerce signals to work, building an underwriting model that sees these customers clearly and extends them credit at the moment it matters the most," he added. Flipkart said it has launched the programme with PayU Finance, the NBFC arm of PayU, as its first lending partner, while additional financial institutions will be added as the platform expands. Under the arrangement, PayU Finance acts as the licensed lender, while Flipkart Finance manages customer relationships and uses commerce data to support credit decisions. The company said credit decisions are based on factors such as transaction history, purchase patterns and platform behaviour, combined with PayU Finance's lending and risk management capabilities, to ensure responsible lending. Commenting on the partnership, Deepak Mendiratta, CEO of PayU Finance, said, "As digital commerce continues to evolve, the need for responsible and accessible credit has never been greater." "Through our partnership with Flipkart Finance, we are combining technology, data-driven underwriting, and strong risk management to deliver seamless credit experiences at scale. Flipkart Pay Later is another step towards expanding financial inclusion while powering the next phase of India's digital commerce growth," he said. (ANI)
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