Customers of Blinkit, a well-known company in the rapid commerce space, now have the option to pay with Equated Monthly Installments (EMIs). This innovation, which was revealed by Blinkit CEO Albinder Dhindsa in a post on X (previously Twitter), aims to lower the cost of more expensive products.
All orders over Rs 2,999 are eligible for the EMI option; however, purchases involving gold and silver coins are not. By enabling clients to spread out payments over time, the change seeks to increase their financial flexibility.
To provide the EMI option via credit cards, the Zomato-owned business has teamed up with top banks such as HDFC, SBI, ICICI, Axis, Kotak Mahindra, RBL, and CITI Bank.
Offering EMI alternatives on high-value orders could draw in additional clients searching for flexible payment choices at a time when rapid commerce platforms are vying for market dominance.
The EMI option is anticipated to spur larger orders and raise the platform's average order value, a crucial growth indicator for Blinkit, given the increasing reliance on speedy commerce for daily necessities like groceries and household goods.
