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KreditBee, Mswipe offer cardless EMI option

KreditBee, Mswipe offer cardless EMI option
Madhusudan Ekambaram
2 Dec, 2021

KreditBee has announced its partnership with Mswipe to offer a ‘Cardless EMI’ option for customers at leading retail stores. With this partnership, the Bangalore-based fintech lending platform aims to enable purchases of more than Rs 5 crore per month.   

Likewise, Mswipe is also looking at empowering merchants with its Brand EMI offering thus increasing footfalls at merchant stores in the process.  

With this joint initiative, KreditBee aims to partner with over five lakh retail stores across the  country by the end of financial year 2022.  

Madhusudan Ekambaram, Co-founder & CEO, KreditBee, said, “Considering the Indian consumers’ increased focus on ease and convenience in services, the idea is to have an integrated 360-degree checkout flow to render their transactions accessible and hassle-free. In our partnership with Mswipe, we plan to jointly extend effective credit solutions to a larger consumer base, including the underserved individuals.”  

Furthermore, KreditBee will also provide ‘Pay Later’ options for purchases upto Rs 1 lakh and the transactions can be converted into EMI ranging from 3 to 12 months under the ‘Cardless EMI’ scheme. Customers can shop at over two lakh merchant stores associated with Mswipe.   

Mswipe CEO Ketan Patel said, “While BNPL offers customers the ability to make instant purchases even when they lack funds at that moment, it is also helping small businesses to increase footfalls which in turn boosts overall sales. EMI transactions on Mswipe terminals are 3X compared to last year, with merchants enjoying services at affordable rates on POS machines and Pay by link.”