Skip to main content

Buy now, pay later: start-up integrates credit & e-commerce

 With challenges of coronavirus, most businesses have gone online from shopping stores to kirana. Adding another option for buyers to ‘Buy Now, Pay Later’ an innovative concept platform ‘CreditKart Fin-Com’ launched on Friday. 

The online shopping platform will enable shoppers to “Buy now, pay later” at no rate of interest, no down payment, and no processing fees. The platform launched all over India and will cater to Indore and other tier 2, 3, 4 and 5 cities. 

Conceptualised by entrepreneur Swapnil Madiyar, the start-up blends e-commerce and finance taking another step towards financial inclusion for India. “There is a need for a shopping platform that provides a direct credit line in order to reduce/ minimize the lengthy procedures and dependence on other financial institutions,” he said.

He added that because of these inconveniencies along with high interests and down payment costs way more than the original price of the product, shopping on EMI is quite a stressful experience. “The unbanked individuals from tier 2, 3, 4, and 5 cities aren’t even catered to by the big players, leaving behind a high demand for affordable online shopping,” Madiyar said. 

To cater to this need, the shopping platform that brings Indian sellers and Indian buyers together to encourage and strengthen local trade. 

Madiyar said, “CreditKart is the first online shopping portal in India which assigns its users a direct credit line when they sign-up, enabling shoppers to “Buy now, pay later” at no rate of interest, no down payment, and no processing fees.” 

The team working on the start-up includes Ruchika Kaushal (SVP), Kiran Fatkar (VP), Mohan Dholu (VP- Engineering) and Trilok Yadav (VP- E-commerce).

“We will give away free shopping worth 50 Crores to their first 10 lakh registered users,” Madiyar said.

To make the platform affordable, the start-up intends to associate with the manufacturers directly so as to reduce the dependency on the middlemen and shorten the supply chain. “This will not only lead to the direct supply of affordable products but also provide India’s first online ‘udhaar ki dukaan’. With less than 10% penetration in the Indian Markets by the big players, Tier 2, 3, 4, and 5 cities face the lack of accessibility and the disadvantages that come with it,” Madiyar said.


Comments

Post a Comment

Popular posts from this blog

CBSE Affiliation Open for the 2026-27 Session under SARAS 6.0

CBSE Affiliation Open for the 2026-27 Session under SARAS 6.0  TINA KHATRI The Central Board of Secondary Education (CBSE) officially opened the online application window for various categories of school affiliation for the 2026-27 academic session on Tuesday. Schools seeking affiliation across multiple categories can now submit their applications via the automated system, SARAS 6.0, which will remain open until June 30, 2025. Himanshu Gupta, CBSE secretary, urged schools to carefully follow the guidelines outlined in the SARAS Manual 6.0. He emphasized, "We strongly advise all applicant schools to carefully review the manual to ensure their applications meet the required standards." Key Requirements for Schools For existing schools, it is crucial that their OASIS data is accurately updated. No incorrect or misleading information should be submitted. Additionally, all schools are required to upload prescribed documents, including details of teachers and their qualifications, ...
Post a Comment
Read more

Railway Station Redevelopment Plan: Capacity boost to handle 10,800 passengers/hour

Railway Station Redevelopment Plan Capacity boost to handle 10,800 passengers/hour In response to increasing demand and future growth, the Railway Department has proposed a comprehensive redevelopment plan for Indore Railway Station, aimed at expanding its capacity to handle 10,800 passengers per hour. The design of the new station is being developed with a focus on long-term sustainability, considering the city's projected needs over the next 50 years. The redevelopment aims to create a state-of-the-art facility that will not only accommodate growing passenger traffic but also enhance the overall travel experience. With 7,500 passengers currently traveling daily and 52 pairs of trains operating each day, the need for infrastructure upgrades has become critical. The proposed station will serve as a major hub for commuters and will play a key role in regional connectivity. The new design will include modernized passenger amenities, advanced traffic management systems, and better int...
Post a Comment
Read more

Jharneshwar Mahadev in Madhya Pradesh: a nature escape from urban jungle

Life is too short, unpredictable and an adventure if lived to the fullest. Learning the essential value of life and deciding to seek adventures in life, several groups are now connecting to nature and seeking spiritual growth. Leading a group of adventure seekers to less-known wonders of Indore, Gyandeep Srivastava, administrator of Rides of Riders group unravelled a new getaway. The group went on a long ride exploring the rural areas of the city. In their bid to seek adventure, the group came across an ancient temple ‘Jharneshwar Mahadev’ which dazzles visitors with nature, beauty and wonder. The temple is situated in Shajapur, about 230 kilometres from Indore. The waterfall of Bhadooh (Jharneshwar Mahadev), a famous tourist place falling under the Quartak Panchayat, about 30 km from Manasa in Neemuch district. After monsoons, the waterfall attracts tourists from all over state to witness the 100 feet high waterfall. There were 25 riders in the adventure trip including female rider I...
Post a Comment
Read more