Flipkart launches new installment-based payment scheme
As competition in the Indian e-commerce market becomes ever fiercer, Flipkart has announced the launch of the Flipkart No Cost EMI — “a monthly installment-based payment scheme with no processing fee, no hidden costs, no down payment and no interest payout”. In a notice posted on its website yesterday (31 May), Flipkart said: “Unlike regular Equated Monthly Installments (EMI) offerings where customers need to pay a significant amount as a down payment, processing fee and interest on top, Flipkart No Cost EMI comes easy. The new service has zero processing fees, zero down-payments and zero monthly interest.”
Flipkart has partnered with Bajaj Finserv to offer the new service.
Flipkart is currently involved in an intense three-way tussle with Amazon and Snapdeal – and reports indicate that Amazon has upped its game significantly over the past year or so.
