Fintech platform KreditBee has partnered with PayU, a digital payments solution provider, to offer customers the option to convert their online purchases worth between ₹2,400 to ₹2 lakh into cardless EMIs during checkout.
PayU’s merchant partners can cater to KreditBee’s customer base and help them convert their purchases into loans of 3-18 months.
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“It gives us immense pleasure to partner with PayU and extend innovative, online checkout finance to the underserved and unserved segments. Our distinctive solution allows customers to conveniently convert their online purchases into hassle-free, easy EMIs,” Madhusudan Ekambaram, Co-Founder and CEO of KreditBee said.
Diverse services
KreditBee currently offers personal loans of up to ₹4 lakh, online/offline checkout finance, and digital gold. The company plans to introduce financial services like insurance, credit score reports, and merchant-side offers, among others.
The platform is backed by Advent International, Premji Invest, Motilal Oswal Alternates, TPG-NewQuest, Mitsubishi UFJ Financial Group, ICICI Bank, and Mirae Asset Venture Investments, and has partnered with over ten financial institutions.
PayU provides payment gateway solutions to online businesses to collect digital payments across over 150 methods such as credit cards, debit cards, net banking, EMIs, Buy Now Pay Later (BNPL), QR, Unified Payments Interface (UPI) and wallets.