In response to the demonetization efforts being undertaken by the government to tackle and eliminate relevant issues and opt for a cashless mode, Bajaj Finance Limited (BFL), the lending arm of Bajaj Finserv and India's leading and most diversified retail-focused NBFC, today announced that its revolutionary EMI (Existing Member Identification) card is the way to pay, enabling cashless transactions to buy anything from consumer durables, furniture, apparel, footwear, eyewear or even groceries.
The EMI Cards have built in magnetic stripe technology which empowers buyers to convert their shopping bill to equated monthly installments, directly at POS terminals of retail outlets. There is nil to minimum down payment in most categories, which makes the experience hassle free.
Bajaj Finance has partnered with multi leading manufacturers and retailers to offer lowest down payment EMI financing options. The company's EMI financing is available across 817 locations and covers close to 30,000 retailers and over seven million customers enabling efficient cash free alternatives to customers and retailers for hassle-free purchases.
The company has tie-up with large format multi-brand retailers such as Reliance, Croma, Vijay Sales, Viveks, Girias, Future Group stores (Big Bazaar Central Brand Factory), brand outlets such as Apple, Samsung, Sony, Arrow, UCB, MegaMart, Globus, Adidas Group, Lawrence and Mayo, Arrow, Zodiac, Arvind Brands, Me and Moms, Baby Oye and Cox and Kings as well as local retailers like Pothys and more.
?"Being a responsible financial lender we understand the needs of our customers, therefore, it is prerogative for us to respond to the needs of our customers and ensure no inconvenience is caused to them at such a time. The EMI finance options will ensure people are able to make their purchases and not face any panic on the commendable move made by the government," said President Consumer Business ?Bajaj Finance, Devang Mody.
"BFL's EMI card is extremely popular and a preferred mode of payment for most of its customers, preferring to conduct cashless transactions. Unlike Credit Cards, close to 65 percent of EMI card franchise is across in Tier II cities and this includes offering unique opportunities to our small town customers. For the convenience of the customers, the company has rolled out unique propositions with various partners," added Mody.
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