• Source:JND

Flipkart has recently dropped an additional credit-based payment system known as 'Flipkart Pay Later', providing consumers yet another option to make payments for their shopping, while not clearing their bill on the spot.

There are three different repayment plans associated with this facility, depending upon the total cost of the product purchased by the consumers and their desired schedule of repayment.

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For everyday shopping, users can opt for the Pay Later option, which lets them pay the bill within 30 days of making the purchase. Those who prefer to spread the cost over a few months can choose Pay in 3, which breaks the total amount into three equal instalments.

Flipkart is also offering EMI plans with repayment periods ranging from three to 12 months. While these are aimed at expensive purchases such as smartphones, electronics, home appliances and furniture, the company says the EMI option can also be used for smaller purchases across categories like fashion, beauty, home products and even orders placed through Flipkart Minutes.

The company has partnered with PayU Finance, the NBFC arm of PayU, to power the new credit service.

Besides Flipkart Pay Later, customers can continue using existing payment methods, including UPI, debit and credit cards, wallets, net banking, EMI, cash on delivery for eligible orders, and Flipkart Gift Cards.

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The launch comes just days before Flipkart's Freedom Sale, which is scheduled to begin on August 8. Flipkart Plus and Flipkart Black members are expected to get access to the sale a day earlier, on August 7. Flipkart has also confirmed a 10 percent instant discount on SBI credit card transactions, although it is yet to announce when the sale will conclude.


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