‘Flipkart Pay Later’ will enable PhonePe users to make purchases on credit and clear dues in one single monthly payment.
PhonePe and Flipkart on Tuesday announced the launch of Flipkart’s Pay Later facility on the PhonePe platform. Payments through the Flipkart Pay Later solution can be completed in a single click, making it a fast and convenient payment option for PhonePe users. While transacting on PhonePe, users can now choose the Flipkart Pay Later credit option on the app and clear their dues through one single payment by the 10th of the next month, at no extra cost.
Commenting on the launch, Deep Agrawal, Head of Payments, PhonePe, said, “We are excited to launch Flipkart Pay Later on the PhonePe platform. PhonePe has always endeavoured to provide consumers with the power to choose the payment instrument of their choice. Flipkart Pay Later is a great way for eligible users to transact safely and conveniently on the PhonePe app. PhonePe is the largest payments platform in the country and we are committed to creating wide-ranging payment options on the platform.”
Launched by Flipkart in 2017, Flipkart Pay Later is a revolutionary customer focussed credit instrument that makes shopping more convenient and affordable for millions of consumers across India. The solution allows consumers to shop for small ticket items up to Rs 5,000 through a single click payment on the platform, without waiting to generate an OTP.
Pre-approved Flipkart users can register for this option on the Flipkart app /site and then activate the Flipkart Pay Later option inside the ‘My Money’ section on PhonePe. With this launch, PhonePe aims to provide users access to a convenient way to pay on the app and at millions of merchants operating on the PhonePe network.
Smrithi Ravichandran, Business Head, Fintech & Payments Group, Flipkart, said, “At Flipkart, we put customers at the heart of all our innovation and PayLater is one such initiative. We have been very encouraged to see the wide acceptance of our in-house innovation ‘Flipkart Pay Later’ by our users. After successful adoption of this payment solution on our website /app, we believe this is the right time to share synergies between the group companies and bring this customer-focused solution on PhonePe which is leading the digital payments market in India.”
Flipkart Pay Later is currently enabled on Myntra and PhonePe.
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