News Tech: Using the beginning of their partnership on Tuesday, KreditBee and Cashfree Payments will enable customers without credit cards to immediately pay for their online purchases with EMIs.
Through this partnership, KreditBee will leverage the Cashfree Payments Payment Gateway to offer simple and cardless EMI alternatives. The collaboration will significantly increase KreditBee’s reach to underserved market segments.
All qualifying customers can get this cardless EMI option from Cashfree Payments businesses thanks to the KreditBee app. New customers can utilise this service after installing the KreditBee mobile app. Loan amounts range from Rs 2,400 to Rs 2 lakhs, with payback durations of 3 to 18 months.
“We are thrilled to join with Cashfree Payments to offer a novel financing alternative in the form of online checkout finance,” stated Madhusudan Ekambaram, co-founder and CEO of KreditBee. Through this cooperation, we are able to reach out to previously neglected and unserved populations with this useful credit instrument. The move to digital commerce and payments has quickened in recent months as the push for digitization has grown, in some cases completely displacing the retail and merchant experience. The goal of this partnership is to create an integrated procedure for the online checkout finance that will allow consumers to easily convert their online purchases—especially those with large ticket values—into hassle-free EMIs.