Notes

Hi Vijaysarathy,

Thanks for writing in.

We understand your concern about the 'Cardless Credit'.

We would like to let you know that Cardless Credit is a new payment mode available on Flipkart Android app that allows customers to shop and repay for the purchases through a single payment or hassle-free easy installments. This payment option is powered by the financing partner, Kissht and it is mandatory to have documents like Aadhar and a savings account to apply.

Important Points to note, Cardless Credit payment mode Related:
1. Cardless Credit will help customers purchase select products on EMI without having a credit card
2. Customers would get this feature if they are eligible based on their shopping history with Flipkart
3. Once eligible customers enter their PAN and Aadhaar details on the 'Cardless Credit Application' page, they will get a confirmation on their eligibility within 60 seconds
4. Credit card issued by bank is not required to avail this facility
5. Flipkart customers who are part of the Buy Now Pay Later (BNPL) payment facility will be exempted from this feature
6. The feature can be used only for shopping with Flipkart
7. This is currently available only on the Flipkart App - Android OS only
8. In the current phase this feature would be available for approximately 2 million customers
9. The minimum credit limit offered is Rs. 20000
10. The maximum credit limit offered is Rs. 60000
11. Customer KYC verified by an OTP is mandatory
12. Availability of the feature is at the sole discretion of Flipkart
13. Customers can use this either as a credit card or to avail EMI option

Billing Related:
1. Bill will be generated on the 1st of the month for all purchases made in the previous month
2. The repayment date will be on or before the 15th of the month
3. Interest charges levied on the installments will vary based on the EMI tenure (the EMI tenure ranges between 3 - 12 months (3, 6, 9 and 12 months) and the interest rates vary between 14% - 22% based on the tenure)

Bill Payment Related:
1. Customers who have availed this benefit can clear their dues using either a Debit Card or Internet Banking (Credit card and other modes of payment will be unavailable to make the payment)
2. Partial payment option is NOT available
3. Customers will also have access to view the pending and the completed EMI on the app (click on 'EMI details' under the 'Cardless Credit' tab)

Late Fees and Defaulters:
1. There would be a nominal late payment charge of Rs. 200, if a customer fails to make the payment by the 15th of the month
2. This is called out in the terms and conditions and will be shown as a reminder notification on the app too
3. If a customer defaults consecutively, his Cardless Credit option would be disabled
4. The collections program will be similar to Buy Now Pay Later (BNPL) where the team would follow up with these customers for payments.

In future, if you have any query feel free to write back to us, we'll be happy to help.

Hope this helps.

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