23rd January 2023: Paytail has partnered with HDB Financial Services Ltd. (HDBFS), India’s leading NBFC to offer loans on lifestyle products like bicycles, EVs, mobile devices, Consumer Durables, and kitchen appliances. This partnership will empower millions of customers with instant digital finance for in-store purchases with an option to pay for the product in easy installments. Additionally, it will benefit retailers in over 85,000 stores across India, helping them create opportunities for cross-selling and up-selling their products.
The loan amount ranges from Rs 5,000 – Rs 3,00,000 offering a hassle-free EMI tenure of up to 24 months, depending on the borrowed amount and the product segment.
Speaking on the association, G Ramesh, MD & CEO, of HDB Financial Services, said, “Our aim is to enable ease of purchase by improving access to credit to customers across India through digital and digitised journeys. The purchase experience will be a seamless journey with zero to minimal human intervention. This association will also help us enter segments that are relatively new, thus expanding and fostering our customer reach”.
Commenting on the partnership, Vikas Garg, Co-founder & CEO, Paytail, said, “Our collaboration with HDBFS aims to fulfill customers’ aspirations who often put their purchasing plans on hold because of various financial challenges. Customers can now enjoy instant credit offerings at no-cost EMIs with easy repayment options. Joining hands with a leading lender like HDB also promises superior and reliable credit provision in tier II and tier III cities where the capital demand is high. It will also allow our affiliated retail offline sellers to attract and retain customers”.