KreditBee collaborates with Cashfree Payments to provide ‘online checkout finance’

• ByStartupStory     |    August 24, 2022

KreditBee, a fintech platform, established a partnership with API banking solutions business Cashfree Payments on Tuesday to offer clients the opportunity to convert their online purchases into EMIs at the point of checkout for non-credit card holders. 

According to the company, KreditBee’s 6 million+ consumers can use the online checkout finance facility from Cashfree Payments’ over 1.5 lakh merchant partners, which include renowned brands such as Nykaa, EaseMyTrip, Livspace, Gonoise, and Wakefit, among others. 

With the KreditBee app, Cashfree Payments merchants may provide this cardless EMI option to all qualified clients. This service is also available to new clients who register on KreditBee’s mobile app. The checkout finance loans range from $2,400 to $2 lakh with terms ranging from 3 to 18 months.

Madhusudan Ekambaram, Co-Founder & CEO of KreditBee, stated, “This collaboration enables us to bring this effective credit instrument to previously unserved and underserved populations. The recent push for digitalization has expedited the shift to digital commerce and payments, in some cases completely replacing the retail and merchant experience. The goal of this collaboration is to create an integrated process for online checkout finance that allows customers to easily convert their online purchases, particularly those with a high ticket value, into easy EMIs.”

Reeju Datta, co-founder of Cashfree Payments, said, “At Cashfree Payments, we strive to provide businesses with the greatest payment infrastructure and a frictionless payment experience for their customers. We are certain that this relationship will help retailers increase conversion rates and income.”

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