A leading merchant commerce platform, Pine Labs today announced its partnership with Home Credit India, part of the Home Credit Group, a leading consumer finance company operating in nine countries. This partnership will enable millions of HC customers to access Instant Equivalent Monthly Installments (EMI) purchase option at Pine Labs PoS terminals across India. Even for buyers who are not Home Credit customers, merchants can provide them with a QR to scan and digitally embed in less than 5 minutes.
Initially, the program will be launched in 18,000 stores and for the purchase of electronics, appliances and cell phones. More stores and new categories will be added later. A special introductory offer will also be extended in which new customers with EMI financing through Home Credit’s Ujjwal (EMI) card will receive a fixed cashback of 5% on the price of the product.
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Paperless, fee-free EMI options are rapidly emerging as an attractive selling proposition for merchants who can with a few clicks of Pine Labs’ smart Android POS terminal convert a regular buy into EMI options of 3, 6, 9, 12 months at no additional cost to the consumer.
“Home Credit Group is a trusted name in consumer credit around the world and today we are delighted to partner Mortgage India which has a consumer base of over 1 crore since entering the Indian market in 2012. Our joint offering will attract more customers in the growing Buy Now Pay Later EMI category and help merchants in India drive sales through to easy-to-use and fast EMI offers during payment using Pine Labs PoS terminals,” said Mayur Mulani – Business Leader – Pay Later, Pine Labs.
Commenting on the partnership, Ankush Khosla, Sales Manager, Home Credit Indiasaid, “We are thrilled to have a top performer like pine labs, as a partner, to support and strengthen Home Credit’s desire to democratize affordable consumer credit. We have always believed in delivering trusted financial products and services responsibly and in today’s post-Covid digital world, this partnership reiterates our commitment to customers for an omnichannel connection with our products and services and responds to customer needs by developing our network of partners.