Flipkart Wholesale launches new credit program to support kiranas, retailers

Flipkart Wholesale, India’s homegrown Flipkart Group’s digital B2B marketplace, today announced the launch of its new industry-first credit programs to help kiranas manage their working capital needs and grow their businesses.

The credit program offers ‘Easy Credit’ in partnership with IDFC FIRST Bank, aimed at alleviating kiranas’ local pain points and boosting their prosperity through the use of technology.

Because of this Flipkart Wholesale’s partnership with lending partners and fintech institutions, several kiranas and retailers will be able to get credit in just two minutes through end-to-end digital onboarding.

The credit line will be between Rs 5,000 and Rs 2 lakh, with a 14-day interest-free period. Kiranas can also take advantage of flexible payment options such as cash and online transfers, as well as immediate refunds in the event of order cancellation, all while keeping track of their credit balance and bills in real-time.

“Our key goal at Flipkart Wholesale is to make business easier for kiranas & 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 digitization trickle to the entire B2B retail ecosystem,”, said Adarsh Menon, Senior Vice President and Head – Flipkart Wholesale.

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 the business.”

Over 1.5 million members use Flipkart Wholesale, which includes kiranas/retailers, HoReCa (hotels, restaurants, and cafeterias), and O&I (offices and institutions) across the country.

Customers have access to a variety of value propositions, including a large selection of Flipkart-assured quality products, simple and convenient order returns, and fast product delivery directly to their stores with easy order tracking facility and better margins on every product.

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