In a bid to provide easy instalments on the items purchased, private lender HDFC Bank has launched EasyEMI on its Debit Cards.
This initiative will ensure a 24 x 7 availability of pre-approved loans and paperless purchase of items along with the benefit of easy instalment.
EasyEMI will help the customers to avail simple instalments just by swiping their Debit Cards. Customers will be notified about the process via SMS. This ensures a wide range of shopping options at the e-commerce portal during the festive season.
Initially, the service would be available to eight million bank customers across different cities in India.
“With EasyEMI on Debit cards, customers get a pre-approved loan offer on their debit cards which they can use with just one swipe at merchant outlets. We feel it is a simple, quick and convenient option for our customers to fulfil their desires, particularly during the festive season. EasyEMI offer is an example of HDFC Bank using analytics, platforms like POS machines for payments in installments and removing paperwork to truly harness the power of digital banking and offer choice and convenience to millions of our customers across the length and breadth of the country,” said Parag Rao, Country Head, Card Payment Products, Merchant Acquiring Services, and Marketing, HDFC Bank.