KreditBee, PayU team up for ‘Online Checkout Finance’
- ByStartupStory | March 22, 2023
KreditBee, a fintech platform, has entered into a partnership with PayU, a digital payment solutions provider. The collaboration enables customers to convert their online purchases, ranging from Rs 2,400 to Rs 2 lakh, into simple cardless EMIs at the time of checkout.
With the partnership between KreditBee and PayU, PayU’s vast network of 450,000 merchants can now provide KreditBee’s customer base of 10 million with the option to convert their purchases into simple cardless EMIs, with loan tenures ranging from 3 to 18 months. Eligible KreditBee customers, both existing and new, will have access to this feature when shopping at PayU’s affiliated brands.
At present, KreditBee provides various forms of personal loans, including online/offline checkout finance and digital gold. Additionally, the company aims to expand its range of financial products by introducing services such as insurance, credit score reports, and merchant-side offers, among other offerings.
Madhusudan Ekambaram, the CEO and co-founder of KreditBee, expressed “great pleasure in collaborating with PayU to offer innovative online checkout finance to the underserved and unserved segments. Through their unique solution, customers can easily convert their online purchases into EMIs without any complications. Ekambaram is confident that this solution will play a significant role in advancing the country’s digitalization and financial inclusion goals”.
Sudhir Sehgal, the Chief Business Officer of PayU payments, stated that “their goal is to create the best affordability platform for online businesses in India by providing comprehensive coverage of lending partners and credit access at the time of checkout. Sehgal believes that KreditBee, with its innovative technology, is the perfect partner to achieve this objective”.
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