Flipkart Pay Later targeting 2X growth over next six months

With the increasing reliance on digital payments, Flipkart Pay Later has witnessed a 70% adoption rate at the time of check-out, with customers using it mainly for purchases across categories of beauty and general merchandise, home and lifestyle. The platform plans to cross the 100 million transaction benchmark by the end of the year.

Flipkart Pay Later, a credit offering by Flipkart that provides convenient and affordable credit solutions for customer's shopping needs, has crossed 42 million transactions to date and is now targeting a 2X growth over the next six months, the company announced on Monday.

With the increasing reliance on digital payments, Flipkart Pay Later has witnessed a 70% adoption rate at the time of check-out, with customers using it mainly for purchases across categories of beauty and general merchandise, home and lifestyle. The platform plans to cross the 100 million transaction benchmark by the end of the year.

The success of Flipkart Pay Later so far has shown the benefits that the constructis able to provide to millions of customers and made us confident of its market-readiness for amuch wider adoption - both on and outside Flipkart Group's platforms. By expanding theoffering, we want to enable customers across the country to fulfil their shopping needs in aseamless and hassle-free manner.

Ranjith Boyanapalli, Head – Fintech and Payments Group at Flipkart.

As fintech adoption continues to increase across the country, Flipkart is planning to expand the reach of its 'Pay Later' construct to make credit available not just on its platform but on other partner channels as well.