Fintech platform KreditBee established a cooperation with API banking solutions firm Cashfree Payments to convert online purchases into EMIs at checkout for non-credit card holders

KreditBee's 6 million+ clients can use Cashfree Payments' 1.5 million merchant partners, including Nykaa, EaseMyTrip, Livspace, Gonoise, and Wakefit.

With the KreditBee app, merchants who use Cashfree Payments can offer this option for EMI without a card to all eligible customers.

Customers who just signed up for KreditBee's mobile app can also use this service. The loans from checkout finance range from 2,400 to 2 lakhs and are paid back over 3–18 months

Through this partnership, KreditBee will use Cashfree Payments' Payment Gateway to offer cardless and easy EMI solutions. The association will expand KreditBee's access to underrepresented segments

"Because of this partnership, we can offer this useful credit tool to people who wouldn't get it otherwise.

In recent months, the push for digitalization has expedited the shift to digital commerce and payments, in some cases eliminating retail and merchant experiences.

This collaboration aims to create an integrated online checkout finance procedure for clients to convert high-ticket online purchases into easy EMIs.

"We look forward to partnering with Cashfree Payments to offer more consumers effective credit alternatives. This will help us reach 8,000 crores in AUM by 2024," Madhusudan said

At the moment, KreditBee offers different kinds of personal loans and a way to invest in digital gold.