Flipkart has announced a new payment option, called Cardless Credit. The announcement has been made just days after Amazon India launched its own Amazon Pay EMI credit option. Cardless Credit from Flipkart offers up to R. 60,000 instant credit. It is said to be a continuation of the company’s fintech journey that started with the Pay Later feature which was launched in January. Flipkart said that the process to apply for an instant credit line up to Rs 60,000, takes 60 seconds. The amount of credit awarded is based on customer behaviour on Flipkart. During checkout, buyers will get access to two propositions: Pay Later next month, or EMIs of 3-12 months. Users will have the option to checkout without OTP for values less than Rs 2,000. Those who opt for the former, will have to pay the due amount back using their debit card or net banking.
