Flipkart introduces Pay Later across Flipkart, Myntra and Minutes

Flipkart Pay Later is a new payment solution from Flipkart that will let customers use credit for their payments and repay according to their own terms. The service will aim to simplify online shopping so that users can checkout in a single step and have the option to pay back later, via various payment methods.

The new offering is available on Flipkart, Myntra and Flipkart Minutes and has been launched in collaboration with the non-banking financial company (NBFC) arm of PayU, PayU Finance.

Three different repayment choices for the shoppers

With Flipkart Pay Later, customers have three options for repayment depending on the product they have bought and their preference for payment.

Pay Later lets customers pay for items they buy today while having up to 30 days to pay back what they owe. Customers may also opt for Pay in 3, where they pay the full amount in three parts.

For higher value items Flipkart is providing EMI loan plans with repayment terms of 3-12 months. Jigsaw puzzles, mobile phones, electronic devices, household appliances and furniture can be purchased using these plans.

The EMI (easy monthly instalments) purchase option is also available for smaller items too across categories such as Flipkart Minutes, fashion, beauty, home products and general merchandise.

The service is now available in collaboration with PayU Finance

Flipkart has tied up with PayU Finance to launch the new credit service. This partnership allows customers to buy embedded credit straight in the checkout process without having to go to another payments platform.

According to the company, the new payment option will make the shopping experience easier by providing flexibility in repayment within the Flipkart ecosystem.

Payment options continue to be the same as before

The e-commerce platform will also keep on supporting the existing payment options along with the Flipkart’s new payment option Flipkart Pay Later.

UPI, credit and debit card, wallet, net banking and ongoing EMI offers are still available for customers. Flipkart also offers Cash on Delivery (COD) for all eligible items and locations and gift cards and vouchers can be redeemed at checkout.

Flipkart’s Freedom Sale is getting underway

The new Flipkart Pay Later feature is coming ahead of Flipkart Freedom Sale that will start on August 8.

Flipkart Plus and Flipkart Black members will be able to avail 24×7 early access on the sale on August 7. All those who make a purchase using SBI credit cards will be eligible for 10 per cent instant discount during the sale period. The closing date of the annual shopping event has yet to be announced by Flipkart.

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Flipkart further extends flexible payment options

Flipkart Pay Later is a step towards diversifying its payment options, providing consumers with more flexibility in handling their purchases. This new feature will enable the shoppers to select repayment options as per their budget while they are shopping on Flipkart’s various online platforms.