PUNE: PhonePe, a digital payments platform, and Flipkart, India’s homegrown e-commerce marketplace, on Tuesday, announced the launch of Flipkart’s ‘Pay Later’ facility on the PhonePe platform.
Under Flipkart’s ‘Pay Later’ facility, one can choose a product, check out quickly and seamlessly without having to scramble for payment details or OTPs, and customers can pay as per their convenience.
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.
Launched by Flipkart in 2017, Flipkart Pay Later is a revolutionary customer focused 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.
Commenting on the launch, Deep Agrawal, Head of Payments, PhonePe, said, “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.”
Smrithi Ravichandran, Business Head, Fintech and 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.”
