HDFC Bank unveils ‘Cardless EasyEMI’ to ease Digital Consumer Loans

HDFC Bank

HDFC Bank, India’s premier private sector bank, today announced the launch of ‘Cardless EasyEMI’ end-to-end Digital Consumer Loans. To facilitate credit for anyone, the bank has teamed with ShopSe, a 100 per cent digital-first pay later marketplace. This unique product, which was unveiled at the Global Fintech Fest 2023 in Mumbai, is a big step towards a totally digitised and frictionless lending experience.

Customers can enjoy the benefits of credit without the requirement for physical documentation or assistance thanks to the ‘Cardless EasyEMI’ programme. Customers can convert their purchases into convenient EMIs by scanning a QR code at participating ShopSe or Bank retailers. Because of the strong integrations with brands and merchants, all clients will be able to access credit in under 5 minutes.

Existing HDFC Bank clients can expect pre-approved offers, while new customers can obtain immediate consumer durable loans of up to Rs 60,000 for a 12-month term by providing their PAN card and mobile number as identification.

Commenting on the launch, Parag Rao, Country Head – Payments, Consumer Finance, Technology & Digital Banking at HDFC Bank, said, “At HDFC Bank, our goal in teaming up with fintechs like ShopSe is to offer customers experiences which are digitally enabled & provide convenience on the go.”

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Pallav Jain, CEO of ShopSe India, said, “We are committed to empowering retailers and customers across the country with affordability options on our platform through one-of-its-kind seamless digital journey. Cardless EasyEMI is one such hassle-free digital finance option with HDFC Bank, which can be completely done end-to-end by any customer.”

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