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Pune-based Mudrakwik Fintech on Friday launched CreditKart Fin-Com, an e-commerce platform and the company plans to penetrate into smaller cities.
In a statement, the company said that the online shopping platform will enable shoppers to 'buy now, pay later' at no rate of interest, no down payment, and no processing fees.
"Fin-com is the perfect blend of e-commerce and finance and is another step towards financial inclusion for India. It blends speed with comfort to make an easy-to-access smooth online shopping experience," it said.
The statement noted that because of these inconveniences along with high interests and down payment costs way more than the original price of the product, shopping on EMI may be a stressful experience.
"The unbanked individuals from tier 2, 3, 4, and 5 cities aren't even catered to by the big players, leaving behind a high demand for affordable online shopping," it said.
The line of products to be available on the site would be apparels, footwear, bags, accessories, home furnishings, appliances, and electronics.
CreditKart Fincom is the brainchild of Swapnil Madiyar, who is the Founder and Director of Mudrakwik Fintech.
Madiyar said: "To make the platform affordable, we intend to associate with the manufacturers directly so as to reduce the dependency on the middlemen and shorten the supply chain. This will not only lead to the direct supply of affordable products but also provide India's first online 'udhaar ki dukaan'."
Source - IANS
