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Flipkart, India’s favourite homegrown e-commerce marketplace is aiming to expand its ‘Flipkart Pay Later’ credit offering and is expecting a 2x growth piggybacking on this, by the end of this year. This credit offering has already brought a good growth to Flipkart in the past few months and currently, there are 2.8 Million users who have used the Flipkart Pay later offering at the time of checkout.

Using this credit system 42 Million transactions by users have been registered on the platform. The company is targeting to cross the 100 Million transactions mark by the end of this year.  

As more and more customers are pivoting towards digital payments and with people seeking convenience, this credit service has been very well-received by Flipkart’s customer base. The service has helped increase Flipkart’s registered customer strength by 50% as compared to last year. According to Flipkart’s assessment, this offering was mainly used for the purchase of beauty, lifestyle products and general merchandise products. In categories like lifestyle, ‘Pay Later’ service outreaches the number of credit card transactions making it a top prepaid instrument used by the customer in this category.      

Ranjith Boyanapalli, Head at Fintech and Payments Group at Flipkart happily commented on this growth, “As a homegrown platform, enabling accessibility and affordability for customers is at the heart of all our offerings. The success of Flipkart Pay Later so far has shown the benefits that the construct is able to provide to millions of customers and made us confident of its market-readiness for a much wider adoption -both on and outside the Flipkart Group platforms. By expanding the offering, we want to enable customers across the country to fulfill their shopping needs in a seamless and hassle-free manner.”

 

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Season I of RIVER carries 270 styles across western and ethnic wear with dresses, tunics, sarees, jumpsuits, formal/casual jackets, evening cocktail sarees and athleisure separates for both men and women. The selection presents trend forward themes like Royal sports chic by JJ Valaya, Disco gypsy by Manish Arora, Floral glam by Suneet Verma and Millennial man by Ashish N Soni and incorporates four affordable collections from each of the designers, remaining close to their celebrated signature styles that India loves.

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Notably, Khadi and Village Industries Commission (KVIC) has also launched its customary annual special 20 percent discount on all products to celebrate the 151st birth anniversary of Mahatma Gandhi.

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As a brand promotion and marketing exercise, Lifestyle has roped in Bengali film actor Mimi Chakraborty as its ambassador for the Durga Puja festive season, he said.

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UNIQLO Vegas Mall, Dwarka measures close to 15,000 square feet in total sales area on two levels and will feature prominent store-front branding through UNIQLO’s distinctive red colour.

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“They have undertaken additional borrowings to manage cash losses, while deferring their capital expenditure and dividend payments to conserve liquidity,”the ratings agency said in a statement.

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