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Flipkart Wholesale, the digital B2B marketplace of Flipkart Group, has launched credit programs to help kiranas manage their working capital requirements and grow their business.
Flipkart Wholesale’s credit offerings, including ‘Easy Credit’ in partnership with IDFC FIRST Bank can help kiranas avail credit in two minutes at zero cost, through digital onboarding.
The credit line will range from ₹5,000 to ₹2 lakh with an interest-free period of upto 14 days. Kiranas will also be able to avail flexible repayment options through cash and online transfers as well as instant refunds in case of order cancellation while seamlessly keeping a tab on their credit balance and bills.
Adarsh Menon, Senior Vice President and Head - Flipkart Wholesale, said, “Our key goal at Flipkart Wholesale is to make business easier for kiranas and retailers and boost their growth journey. We believe our new credit plan is tailored to solve local challenges that kiranas in India face and will help them manage their cash flow and improve their purchase experience on our platform, thereby ensuring that the benefits of digitisation trickle to the entire B2B retail ecosystem.”
Amit Kumar, Head-Retail Liabilities & Branch Banking – IDFC FIRST Bank, said, “India’s kirana stores account for over two-thirds of the country’s retail landscape. This traditional trade is now evolving in terms of retail formats and business models. As a bank with a digital-first approach and focus on serving the retail ecosystem, we are keen to contribute to the growth of this segment. The partnership with Flipkart gives us an opportunity to enable kiranas to access formal credit and scale up business.”
Flipkart Wholesale claims to serve over 1.5 million members across the country, which include kiranas/retailers, HoReCa (hotels, restaurants and cafeterias) and O&I (offices and institutions). Flipkart Wholesale customers have access to an array of value propositions, including a range of Flipkart-assured quality products, convenient order returns, and product delivery directly to their shops with order tracking facility and better margins on every product.
The Flipkart Group is a digital commerce entity that includes group companies such as Flipkart, Myntra, Flipkart Wholesale, and Cleartrip. The group is also a majority shareholder in PhonePe, one of the leading payments apps in India.
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