Flipkart, India’s homegrown e-commerce marketplace, has announced partnerships with several banking, insurance and financial service entities, ahead of The Big Billion Days, to make shopping on the platform more affordable than ever before. With this, Flipkart is ramping up its fintech constructs so that consumers across the country can avail the benefits of easy accessibility to credit and affordability options. 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.
As part of its commitment to be the online destination for affordable shopping for every Indian, Flipkart is offering affordable credit options through 17 leading banks, NBFCs and fintech players on the platform, which will drive credit accessibility for over 70 million customers on the platform. Flipkart has partnered with one of India’s biggest banks – State Bank of India and with SBI Card, India’s largest pure play credit card issuer – to provide both their Debit and Credit cards holders a 10% instant discount. No Cost EMI will be available for Bajaj Finserv EMI card holders across a wide range of products. With the newly launched OTP-based authentication process, customers will be able to avail friction-less and hassle-free credit for their purchases.
With the launch of Kotak Mahindra Bank and Federal Bank Debit Card EMIpayment option, customers can now avail pre-approved credit from 7 leading banking and fintech players. Through a partnership with Paytm, Flipkart is offering more value to shoppers with assured cashback on wallet & UPI transactions. This will aid in faster checkouts, especially during the much-awaited flash sales. In terms of insurance, customers can safeguard themselves against cyber frauds with the Digital Suraksha Group Insurance, in partnership with Bajaj Allianz General Insurance Company. Flipkart is also launching a Gift Card Store catering to customer needs across 60 brands such as Joyalukkas, Kalyan Jewellers, Croma, FabIndia and KFC, among others. To enable the purchase of gift cards (Digital & Physical) during the festive season, Flipkart will be offering a discount of up to 10%.