KreditBee, a fintech platform, has partnered with PayU, a digital payments solution provider. Together, they will offer customers the option to convert their online purchases worth between Rs 2400 up to Rs 2 lakhs into easy cardless equated monthly installments (EMIs) during checkout.
The partnership will assist PayU’s 4.5 lakh+ merchant partners to empower KreditBee’s 10 million customer base with the ability to convert their purchases into cardless EMIs, with a 3-18 months loan tenure. KreditBee’s new and existing customers meeting the eligibility requirements will also be able to avail of this offer while shopping from brands associated with PayU.
KreditBee is a fintech platform that facilitates instant personal loans to professionals. Professionals can avail of loans up to Rs 4 lakhs as per their requirement. It currently offers multiple types of personal loans, online/offline checkout finance and digital gold. The company further plans to diversify its product offering by introducing financial services like insurance, credit score reports and merchant-side offers, among others.
PayU is an online payment solutions provider regulated under the Reserve Bank of India. It aims to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of customers (merchants, banks, and consumers) through technology.
“It gives us immense pleasure to partner with PayU and extend innovative, online check out finance to the underserved and unserved segments. Our distinctive solution allows customers to conveniently convert their online purchases into hassle-free, easy EMIs. We are certain that solutions such as this will certainly contribute to the country’s digitalisation and financial inclusion imperative,” said Madhusudan Ekambaram, co-founder and chief executive officer of KreditBee.
“PayU’s mission is to build the best affordability platform for online businesses in India by offering maximum coverage of lending partners and access to credit right at checkout. We believe KreditBee, with their innovative technology, is an ideal partner,” added Sudhir Sehgal, chief business officer of PayU payments.