Indian fintech outfit KreditBee has forged an alliance with digital payments firm PayU to provide consumers with options to pay in cardless instalments during checkout.

Leveraging the tie-up, PayU’s merchant partners will be able to allow KreditBee customers to complete their payments against their purchases in EMIs within a period of three to 18 months.

Currently, PayU is said to have more than 4.5 lakh merchant partners, while KreditBee has a customer base of ten million people.

The partnership covers online transactions worth between INR2,400 ($29) up to INR200,000 ($2,430).

KreditBee co-founder and CEO Madhusudan Ekambaram said: “It gives us immense pleasure to partner with PayU and extend innovative, online check out finance to the underserved and unserved segments.

“Our distinctive solution allows customers to conveniently convert their online purchases into hassle-free, easy EMIs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We are certain that solutions such as this will certainly contribute to the country’s digitalisation and financial inclusion imperative.”

At present, KreditBee delivers various kinds of personal loans as well as online and offline checkout finance, among others.

In January this year, the firm received an investment of $100m through the second tranche of its Series D funding round.

PayU payments chief business officer Sudhir Sehgal said: “PayU’s mission is to build the best affordability platform for online businesses in India by offering maximum coverage of lending partners and access to credit right at checkout.

“We believe KreditBee, with their innovative technology, is an ideal partner.”