CreditVidya and Flipkart Wholesale, India’s Flipkart Group’s B2B digital marketplace, have partnered to offer an “Embedded Buy Now, Pay Later” credit solution to Flipkart Wholesale’s 1.5 lac merchants. With the integration of CreditVidya, the marketplace will have access to $100 million in capital through multiple financial institutions to meet the credit needs of its merchants.
Speaking on the partnership, Abhishek Agarwal, Co-Founder and CEO of CreditVidya said, “We are excited to launch a BNPL B2B solution in association with Flipkart Wholesale. Our shared vision of leveraging technology for goodwill empowers and uplifts Indian MSMEs by bringing cost savings and operational efficiencies. Leading this collaboration, we strive to democratize access to credit by playing to everyone’s strengths to create an ecosystem conducive to the growth and prosperity of MSMEs. »
Commenting on the development, Adarsh Menon, Senior Vice President and Director of Flipkart Wholesale said, “Today, ‘buy now, pay later’ has disrupted the traditional payment market and become an alternative to credit. Our MSME members are aggressively embracing new flexible payment solutions offered by companies like CreditVidya. This allows them to make larger purchases to increase their inventory, even if they don’t have that amount of cash on hand. We are delighted to partner with CreditVidya to provide a transparent deferred payment alternative, further strengthening our commitment to our partners and stakeholders.
Flipkart Wholesale and the CreditVidya team have designed a simple and easy-to-use multi-language app to make business onboarding easy. After onboarding in less than a minute, businesses on Flipkart Wholesale can opt for fully digital and instant credit with ticket size as small as INR 500.