Flipkart partners with banks, financial service providers to drive affordability

Flipkart has tied up with several banking, insurance and financial service entities to provide customers with increased accessibility to credit and affordability options during the upcoming festive season.

The e-commerce marketplace is offering affordable credit options through 17 leading banks including the State Bank of India (SBI), NBFCs and fintech players like Paytm to over 70 million customers on the platform.

Through these partnerships, Flipkart aims to tap into the new-to-credit audience across different geographies and pin codes and offer them access to its 250 million+ product offerings on the Flipkart marketplace, the company said in a press release. Here are the credit accessibility and affordability options Flipkart is offering:

• SBI Debit and Credit cards holders will get a 10% instant discount
• No Cost EMI will be available for Bajaj Finserv EMI card holders across a wide range of products
• With Kotak Mahindra Bank and Federal Bank Debit Card EMI payment option, customers can avail pre-approved credit from 7 leading banking and fintech players
• Assured cashback on wallet and UPI transactions via Paytm
• In partnership with Bajaj Allianz General Insurance Company, Flipkart is providing customers with the Digital Suraksha Group Insurance so that they can safeguard themselves against cyber frauds
• Flipkart is bringing a Gift Card Store catering to customer needs across 60 brands including Croma and KFC
• During the festive season, Flipkart will be offering a discount of up to 10% to enable the purchase of gift cards (Digital & Physical)

"By facilitating credit and insurance access, and simplifying payments for over 250 million customers across the country, we are reinforcing our commitment to helping fulfill their aspirations without the burden of financial constraints. Through these partnerships and their expansion, we hope to take the promise of The Big Billion Days to more customers to enable meaningful growth," said Ranjith Boyanapalli, Head - Fintech and Payments Group at Flipkart.