In the wake of rapid digitisation, online payment service provider, PayU Monedo joined hands with Onlymobiles.com, an online and offline omni-channel, to offer its consumers online mobile purchase at no cost EMIs on both cashless and cardless purchase options.
The partnership with PayU Monedo will help buyers pay through a monthly EMI for a duration ranging from three to 36 months.
The association aims to bridge the exiting gap among under-banked markets and areas using a digital platform. Designed to be in sync with the Digital India campaign, the partnership will help Onlymobiles.com expand its reach and customer base.
“Our association with PayU Monedo has helped us not only to contribute in the Digital India campaign but also empower the consumers with more purchasing power. Our offer to buy mobiles at flexible EMI with No Cost to Customer will surely encourage more people to convert into online shoppers. With this partnership, we aim at offering hassle free and quick mode of payment,” said Sanjeev Bhatia, Co-Founder of Onlymobiles.com.
The partnership is a blend of innovative technology and state-of-the-art fraud detection and eKYC verification process. As a result, the customers opting to purchase mobile online from Onlymobiles.com, will be checked for their credit ratings. However, use of latest technology ensures a less than two minutes of time in completion of the application process. The process not only eliminates any human intervention but also shortens the cumbersome process usually involved in making payments through EMIs.
“We are constantly thriving to bridge the underlying gap for credit and use innovative technology to offer an alternative payment method in the checkout process. Partnering with Onlymobiles.com will enable us to give more shopping options to the consumers and help them buy products at flexible EMI even in the absence of a credit card,” said Gurjodhpal Singh – Business Head, PayU Monedo.
The option of the new payment method will be available at checkout, where the customers can choose from other flexible repayment options using PayU.