Flipkart is here again with another offer for its buyers. This time, it has facilitated its buyers to pay the monthly EMIs through their debit cards, while the ongoing Big Billion Day Sale, as e-commerce site had the plans of gaining revenues during its much talked about flagship event. Till now, the EMIs were only restricted to the purchase done by credit cards, which can be availed through all the big e-commerce sites. Also, the company has made a ‘white list’ of its customers, sourced from the internal data, who will be provided with this option.

A Pilot project has been initiated by the e-commerce honcho just before the launch of this scheme, with the State Bank Of India and Axis Bank. The initial products to be launched under this scheme will be the large appliances, but will eventually be applicable from the mid range to the high range products, across all categories. Sandeep Karwa, the head of large appliances for Flipkart, elaborated on this by stating that “Based on past purchases and other data points we have a set of customers who we can offer EMIs to through their debit cards. We saw that this population of buyers wase not being able to shop for high-value products as they did not have credit cards. With this plan about to be introduced, they can opt for higher priced items which shall push our overall sales volumes up”.

Also, he added that this decision was mainly based on the fact that the recent data by Reserve Bank of India stated that until June 2017, the country had 79.38 crore debit card holders in comparison to the 3.14 crore credit card holders. So, this is the high time when online retailers initiate this option for the group of consumers.

Now, this ‘white list’ group of users as well as the debit card EMIs from banks, will be ramped up in the run up to Big Billion Day Sale, across all certain categories like smartphones, large appliances, electronics and others. For the last one year, Flipkart has been working on this consumer finance programs to increase the sales. Flipkart’s idea of debit card EMIs with large appliances is in lieu to the Tencent -backed company, planning for a six-week heavy advertising campaign for this category as it focuses on reaching this segment to a position, to gain the momentum of a strong business, similar to that of smartphones.