Sapna Mahajan, a 33-year-old homemaker, finally decided to buy a microwave and scanned through multiple options online to get the best buy with easy EMI options. Finally, she zeroed in on one but had to abandon her purchase as there was no EMI option on debit card. Neither she nor her husband have credit cards.
The debit card user base in India currently stands at over 800 million. Like Mahajan, many Indians use debit cards as a primary source or payment as they do not hold a credit card.
Flipkart took cognizance of this long pending issue and came up with a feasible and easy solution. Flipkart has empowered its online shoppers by introducing EMI option on debit cards.
Online shoppers can now buy anything on Flipkart without compromising on payment options or borrowing credit cards. The Debit Card EMI (DCEMI) option will solve payment woes and give back power to wallets.
This new option is a hassle-free way to shop as unlike credit cards, no documentation is required and there are no hidden charges and processing fee.
Here are other benefits that come with the DCEMI option:
1. Power in your wallet: The DCEMI option lets you pay for your orders in easy monthly instalments using debit/ATM cards. You don't need to have any minimum balance in your account while placing the order. Just ensure you have sufficient funds to pay the EMI on time.
2. How to avail: There are just four easy steps to avail this option. Just select this option, choose EMI tenure of your choice, authorise and confirm plan. There is no extra step or paperwork required. It is available on app as well as website.
3. No Down payment: You don’t have to pay any down payment amount to avail this offer.
4. Easy re-funds: You will get a complete refund to the extent of the EMIs paid by you for the item, in case it is cancelled or returned. Still, do a double check and read the return policy.
5. Eligibility: Only a select base of pre-approved customers is currently eligible for DCEMI. Eligibility is decided by the respective bank and not by Flipkart. To check eligibility to avail EMIs on Debit Cards, SMS DCEMI to 57575. In case you are not eligible, you can still shop using EMIs on all major credit cards and Bajaj Finserv EMI Network Card.
Flipkart’s new option will certainly help many online consumers to shop without worrying about the payment options.
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