Zomato-owned Blinkit launches EMI payment option for orders above Rs 2,999

Blinkit, a prominent player in the quick commerce sector, has introduced an Equated Monthly Installment (EMI) payment option for its customers.

Announced by Blinkit's CEO Albinder Dhindsa via a post on X (formerly Twitter), this feature is designed to make higher-value purchases more affordable.

Dhindsa expressed that this new payment option will help customers better manage their expenses, stating, "We believe this will improve affordability and enable better financial planning for our customers."

We have introduced buying with EMI on Blinkit!

EMI options will be applicable on all orders above ₹2,999 (except orders that contain gold and silver coins)

We believe this will improve affordability and enable better financial planning for our customers. pic.twitter.com/htBrxnKMjk

— Albinder Dhindsa (@albinder) October 24, 2024

The EMI option applies to all orders above Rs 2,999, though purchases involving gold and silver coins are excluded.

The move aims to improve customers' financial flexibility by allowing them to spread out payments over time.

EMI partnership with major banks

The Zomato-owned company has partnered with leading banks, including HDFC, SBI, ICICI, Axis, Kotak Mahindra, RBL, and CITI Bank, to offer the EMI facility through credit cards.

The development comes at a time when quick commerce platforms are competing fiercely for market share, and providing EMI options on high-value orders could attract more customers looking for flexible payment solutions.

With the growing reliance on quick commerce for everyday needs like groceries and household items, the addition of the EMI feature is expected to drive larger orders and improve the platform's average order value, a key growth metric for Blinkit.

Strengthening competitive edge in quick commerce

Blinkit’s introduction of EMI aligns with the larger trend of e-commerce platforms providing flexible payment options. Competitors like Amazon and Flipkart have already been offering EMI services, particularly for high-value items like mobile phones and electronics.

By offering this feature, Blinkit aims to differentiate itself in the highly competitive quick commerce space, where players like Swiggy Instamart and Zepto also vie for customer loyalty.

The addition of more expensive products, such as iPhones and PlayStation consoles, to Blinkit's inventory, makes the EMI option a natural extension.

Expanded product offerings and business features

Apart from introducing the EMI feature, Blinkit has been expanding its product range and services. Recently, the company launched the Sellers Hub to help brands list on the quick commerce platform and start selling their products.

According to Blinkit Chief Technology Officer Sajal Gupta, more than 200 brands have joined this initiative.

“We want to create a seller programme in quick commerce that is significantly better than any other, and our benchmark has always been the OG, FBA Amazon. To that end, we have launched Blinkit Seller Hub (seller.blinkit.com) to make selling via Blinkit completely self-serve for brands, without the need to interface with any intermediary or with us (of course, we are here if brands need us),” said Gupta.

“We believe we can serve the community of brands better by building tech that gives them more power and control over their quick commerce presence. Over 200 brands already have access to their Seller Hub, and we are rolling out to more brands soon after the required document verifications.”

Additionally, Blinkit introduced a 10-minute returns and exchanges service for clothing and footwear, available in major cities like Mumbai, Bangalore, Hyderabad, and Pune.

The service aims to resolve common issues related to size and fit for online shoppers, further enhancing Blinkit's customer experience.