Buy Now Pay Later: Flipkart raises credit limit to Rs 70,000

Ahead of the festive season, e-commerce giant Flipkart has raised the credit limit or the ‘Buy now and Pay Later’ EMI facility to Rs 70,000 due to an increase in high-value purchases. The e-commerce has observed high sales among millennials. Earlier the limit was Rs 10,000 for plans up to 12 months. Flipkart offers a repayment option under its ‘Flipkart Pay Later’ product to customers for a flexible time period of 3, 6, 9, and 12 months. The e-commerce platform aims to improve sales among customers during the festive season.

“During the festive season, many high-value purchases are made and we have strengthened our EMI options to make sure that customers can manage finances and expenses judiciously during this period,” Ranjith Boyanapalli, head of fintech and payments, said. Boyanapalli said that the company has planned to explore such options for customers in the future so that they can fulfill their lifestyle goals within their budget.

The company will also provide the option of no-cost EMI across a wide range of products, as well as standard EMIs — in partnership with 18 leading banks and financial companies.

No-cost EMIs and standard EMIs facility will available for a time period of up to 12 months and 36 months respectively.