Flipkart Wholesale rolls out new credit program to support Kiranas, Retail News, ET Retail

Bangalore: Flipkart Wholesale, the digital B2B marketplace of Indian group Flipkart, announced the launch of credit programs aimed at helping kiranas manage their working capital needs and grow their business.

Flipkart Wholesale’s credit offerings, including “Easy Credit” in partnership with IDFC FIRST Bank, are part of a series of initiatives being undertaken to address local kirana problems in India and boost their prosperity by facilitating their activity through technology.

Thanks to these new offers, kiranas can get credit in just two minutes at no cost, thanks to end-to-end digital integration in partnership with IDFC FIRST Bank and other fintech institutions. The line of credit will range from Rs 5,000 to Rs 2 lakh with an interest-free period of up to 14 days. Kiranas can also enjoy the benefits of flexible refund options through cash and online transfers, as well as instant refunds in the event of order cancellations, while keeping an eye on their credit balance and invoices.

Adarsh ​​Menon, Senior Vice President and Head of Flipkart Wholesale, said, “Our main focus at Flipkart Wholesale is to make it easier for Kiranas and retailers to do business and to drive their growth. We believe our new credit plan is designed to address the local challenges Kiranas faces. in India and will help them manage their cash flow and improve their shopping experience on our platform, thus ensuring that the benefits of digitalization spill over into the entire B2B retail ecosystem.

Amit Kumar, Head-Retail Liabilities & Branch Banking – IDFC FIRST Bank, said: “India’s Kirana stores represent over two-thirds of the country’s retail landscape. This traditional business is now evolving in terms of retail formats and business models. bank with a digital approach first and focusing on serving the retail ecosystem, we want to contribute to the growth of this segment. The partnership with Flipkart gives us the opportunity to allow Kiranas to access formal credit and develop its business.

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

Flipkart Wholesale customers have access to an array of value propositions, including a wide range of products guaranteed by Flipkart quality, simple and convenient order returns, and prompt delivery of products directly to their stores with ease of tracking. orders and better margins on each product.