The MobileStore launches new EMI scheme for smartphones buyers

Jan 20 2014, 15:17 IST
Comments 0
The Mobile Store's new personal finance option for smartphones will be introduced in in Mumbai, Delhi, Pune, Kolkata and Chennai. The Mobile Store's new personal finance option for smartphones will be introduced in in Mumbai, Delhi, Pune, Kolkata and Chennai.
SummaryThe MobileStore's news installment scheme without a credit card will be launched in five cities.

Mobile phone retail chain The MobileStore today launched a new installment scheme for consumers to buy devices on EMI (equated monthly installments) without a credit card across five cities in the country.

The personal finance option, introduced in Mumbai, Delhi, Pune, Kolkata and Chennai, will allow consumers to buy smartphones by submitting their Know Your Customer (KYC) documents, The MobileStore (TMC) said in a statement.

The company has partnered with Japanese company AEON Credit Service India to introduce this solution in order to target the base of consumers without a credit card.

"EMI schemes have always played a crucial role in making high-end smartphones affordable for the Indian consumers. However, such schemes have only been restricted to credit card holders," The MobileStore CEO Himanshu Chakrawarti said.

There are 18-19 million credit card holders in the country and the numbers are growing at a slow pace.

"An EMI solution without a credit card opens-up the smartphone market to a significantly larger group of consumers, who do not own a credit card," he added.

Ads by Google

More from Tech

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...