Flipkart Banking On Fintech To Boost The Big Billion Days Sale Focus on driving affordability in tier II and beyond markets
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Flipkart 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 before.
Through these partnerships, the company is offering affordable credit options through seventeen leading banks, NBFCs (non-banking financial companies) and fintech players on the platform, which will drive credit accessibility for over 70 million customers.
Flipkart has partnered with State Bank of India (SBI) and SBI Card to provide a 10 per cent discount to their debit and credit cards holders.
"At Flipkart, customer-centricity is at the heart of all our endeavors, as we create increased shared value for all our stakeholders and partners in the ecosystem. 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 Flipkart head of fintech and payments group Ranjith Boyanapalli, in a promising tone.
With the launch of Kotak Mahindra Bank and Federal Bank Debit Card EMI payment option, customers can now avail pre-approved credit from seven leading banking and fintech giants.
"We are delighted to associate with Flipkart as an exclusive credit card partner for the flagship The Big Billion Days shopping festival. We have had a long association with Flipkart and this is another collaboration which will bring our customers the best from both partners. SBI Card customers can avail 10 per cent discount on Flipkart in addition to the various offers given on the platform during the offer period. Our constant endeavor is to bring our consumers a superior experience and maximum savings through carefully curated partnerships. Through this association, we are pleased to offer our customers a rewarding shopping experience from the safety of their homes this festive season," stated SBI Card managing director and chief executive officer Ashwini Kumar Tewari.
Through a partnership with Paytm, the company is offering more value to shoppers with assured cashback on the wallet and UPI (unified payments interface) transactions.
"We are happy to announce our strategic partnership with Flipkart for the Big Billion Days Campaign. We believe that this shopping fest will provide our SBI Debit Cardholders a delightful and easy-on-the-wallet shopping experience with attractive benefits and discounts. We, at SBI, constantly work towards offering customized financial solutions to our customers suiting their needs and requirements, to make their transactions safe, secure and memorable," said a statement released by SBI.
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.
"It is great to see two technology companies collaborating to offer seamless shopping and payment experience. Flipkart has championed e-commerce in India, and together we aim to replace cash on delivery with digital payments via Paytm wallet and Paytm bank account. Our aim is to empower millions of Indians with innovative solutions that would play a key role in building atmanirbhar bharat. Paytm is a pioneer of the digital payment ecosystem and our efforts have started reflecting in the strong adoption among small cities and towns," said Paytm president Madhur Deora, on the collaboration.
Founded in 2007, the company recently launched Flipkart Wholesale to accelerate the growth of kiranas and MSMEs (micro, small and medium enterprises) in India.