Source: News Bharati English31 May 2016 15:31:54
Bengaluru, May 31: Flipkart, India’s e-commerce major, introduced ‘no cost EMI’ option on Tuesday where customers will not bear additional costs. This will help make high end purchases affordable for the customers sans additional EMI costs. It looks forward to boost the sale of smart phones, televisions, home appliances and electronic products.
Bajaj Finserv Ltd and other electronic brands have partnered with Flipkart to give consumers the benefits of this option. In this new option, customers can buy electronic products that cost more than Rs.5,000 and pay in equal monthly installments (EMIs) over three, six or nine months. There won’t be any fees, interest or asking for down payments charged by Flipkart by from its customers.
“According to our surveys, consumers are willing to pay more over time for essential things,” And in this case, it’s not credit as such because there are no fees or interest. In the three weeks that we’ve launched the no-cost EMIs, we’ve seen customers have upgraded their purchases because of it. We’re thinking of affordability as an overall problem to solve. We will come at this problem from different angles.” Said Surojit Chatterjee, senior vice-president of Flipkart.
Flipkart offers its customers the option of paying by various means viz. debit cards, credit cards and other digital payment methods. “We’re looking at how we can give customers an end-to-end experience on Flipkart so that they don’t have to go elsewhere. We’ll launch more digital products to make the end-to-experience better and make products more affordable,” Chatterjee said.
Flipkart team has also introduced a new scheme where customers can exchange their old phones for new on Flipkart website.