Indian e-com firm Flipkart's Pay Later crosses 42 mn transactions

27 Jul '21

2 min read

Pic: Burdun Iliya / Shutterstock.com

Indian e-commerce marketplace Flipkart plans to expand its Pay Later credit offering, targeting a 2X growth over the next six months. Currently, there are over 2.8 million customers who have adopted Flipkart Pay Later and have made more than 42 million transactions on the platform to date. It also plans to cross 100 million transactions by the end of 2021.

Owing to the growing reliance on digital payments, Flipkart Pay Later has seen a 70 per cent adoption rate among customers at the time of check-out, the company said in a media release.

As digital adoption continues to increase across the country and customers seek value-driven credit options, Flipkart Pay Later has seen an increase of over 50% in the number of registered users as of July 2021 in comparison to the previous year.

Ranjith Boyanapalli, head – fintech and payments group at Flipkart, said, “The success of Flipkart Pay Later so far has shown the benefits that the construct is able to provide to millions of customers and made us confident of its market-readiness for a much wider adoption - both on and outside Flipkart Group’s platforms.”

Flipkart plans to expand the reach of its Pay Later construct to make credit available not just on Flipkart’s platform but on other partner channels as well.

Fibre2Fashion News Desk (KD)

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