No Credit Card needed! Buy mobile, laptops, apparels up to Rs 5 lakh with ICICI Bank cardless EMI online

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ICICI Bank on Monday stated it has launched instantaneous ‘Cardless EMI’ facility for on-line purchases made on e-commerce platforms. The brand new facility goals to boost affordability to tens of millions of ICICI Financial institution’s pre-approved prospects by permits them to immediately purchase services or products on-line by way of EMIs in just some clicks through the use of their cell phone and PAN.

ICICI Financial institution stated prospects can convert the transactions as much as Rs. 5 lakh into simple month-to-month instalments by merely getting into their registered cell quantity, PAN and OTP (acquired on cell quantity) on the check-out part of the e-commerce web site or app. The ability will be availed throughout a number of classes reminiscent of electronics, house home equipment, laptops, cellphones, journey, vogue apparels, sports-wear, schooling and residential décor.

ICICI Financial institution additionally stated it’s the first within the trade to introduce a handy and instantaneous cardless EMI facility for on-line procuring, seven months after it launched the identical service at retail shops. The non-public sector financial institution has tied up with digital lending platforms – FlexMoney and ShopSe – to supply this facility throughout 2,500 manufacturers together with Bata, Bajaj Electricals, Profession Launcher, D Décor, Decathlon, Duroflex, Flipkart, HealthifyMe, Henry Harvin Schooling, Kurl-on, Lenovo, Lido Studying, Myntra, Makemytrip, Morphy Richards, Nokia, ONLY, Panasonic, Pristyn Care, Raymonds, Simplilearn, Tata Cliq, Suppose & Be taught, Toppr, Vedantu, Vero Moda, Vijay Gross sales and City Ladder. The Financial institution will add extra manufacturers to this facility in future.

Commenting on the brand new facility, Sudipta Roy, Head- Unsecured Belongings, ICICI Financial institution stated, “We, at ICICI Financial institution, consider in offering revolutionary, handy and hassle-free merchandise to our prospects. With this thought, we had launched instantaneous ‘Cardless EMI’ facility for retail shops within the final festive season to assist our prospects to buy merchandise of their selection in a very contactless, digital and safe method. Impressed by the encouraging response from it, we’ve got now prolonged the ability for on-line procuring. With this, our prospects can store from over 2,500 e-commerce retailers and types simply through the use of cell phone and PAN. The brand new providing improves affordability to tens of millions of our prospects as they’ll buy excessive worth merchandise on EMIs and in a safe, handy, instantaneous and digital method.”

Yezdi Lashkari, Founder & CEO of FlexMoney Applied sciences stated, “We share ICICI Financial institution’s imaginative and prescient that the way forward for buy finance shall be a frictionless, built-in, and cardless digital credit score checkout expertise for the patron. FlexMoney’s InstaCred platform offers a seamless and safe
service provider built-in checkout expertise to prospects of ICICI Financial institution enabling them to buy throughout our multi-category service provider community.”

On-line ‘Cardless EMI’ advantages

• Digital & instantaneous course of: Clients can avail the EMI facility in a very digital, instantaneous and safe method
• Extensive transaction restrict: Clients can get pre-approved restrict for purchases from Rs. 7,000 to Rs. 5 lakh
• Versatile tenures: Clients can choose tenures of their selection from 3, 6, 9 and 12 months
• Unique comfort: No different financial institution in India provides this comfort ∙ Wide selection of classes: The ability is offered throughout 2,500 e-commerce manufacturers of electronics, house home equipment, laptops, cellphones, journey, vogue, sports-wear and residential décor

Cardless EMI on-line: Steps to comply with

Listed here are easy steps to go for the ‘ICICI Financial institution Cardless EMI’ facility: ∙

1. Go online to the web site/ app of any of two,500 e-commerce manufacturers
2. Select the services or products > Select ‘Cardless EMI’ because the cost possibility ∙ Enter registered cell quantity > enter PAN > enter the OTP
3. Transaction will get accredited at this stage immediately

Eligibility verify for cardless EMI

ICICI Financial institution prospects can verify their eligibility for ‘Cardless EMI’ for on-line procuring by sending SMS ‘CARDLESS’ to ‘5676766’ or verify the provides part on iMobile app.