No credit card required! Buy mobile devices, laptops and clothes up to Rs 5 lakh with ICICI Bank without EMI card online

Representative image / pixabay

ICICI Bank said on Monday that it has introduced instant ‘Cardless EMI’ feature for online purchases made on e-commerce platforms. The new facility aims to improve affordability for millions of ICICI Bank pre-approved customers by enabling them to instantly purchase products or services online via EMI with just a few clicks using their mobile phone and PAN.

ICICI Bank said that customers can convert transactions up to Rs. 5 lakh in easy monthly installments by simply entering your registered mobile number, PAN and OTP (received at mobile number) in the payment section of the website or e-commerce application. The facility can be used in a number of categories, such as electronics, home appliances, laptops, mobile phones, travel, fashion clothing, sportswear, education, and home decoration.

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ICICI Bank also said it is the first in the industry to introduce a convenient and instant cardless EMI facility for online purchases, seven months after it launched the same service in retail stores. The private sector bank has partnered with digital lending platforms, FlexMoney and ShopSe, to offer this service across 2,500 brands, including Bata, Bajaj Electricals, Career Launcher, Décor, Decathlon, Duroflex, Flipkart, HealthifyMe, Henry Harvin Education, Kurl -on. , Lenovo, Lido Learning, Myntra, Makemytrip, Morphy Richards, Nokia, ONLY, Panasonic, Pristyn Care, Raymonds, Simplilearn, Tata Cliq, Think & Learn, Toppr, Vedantu, Vero Moda, Vijay Sales and Urban Ladder. The Bank will add more brands to this facility in the future.

Commenting on the new facility, Sudipta Roy, Director Unsecured Assets, ICICI Bank said: “We at ICICI Bank believe in providing innovative, convenient and hassle-free products to our clients. With this in mind, last holiday season we introduced ‘Cardless EMI’ instant installation for retail stores to help our customers purchase the products of their choice in a completely digital, secure and contactless manner. Inspired by the encouraging response you gave us, we have now expanded the possibilities of online shopping. With this, our customers can shop at more than 2,500 merchants and e-commerce brands just by using their mobile phone and PAN. The new offering improves affordability for millions of our customers as they can purchase high-value products in EMI and securely, conveniently, instantly and digitally.

Yezdi Lashkari, Founder and CEO of FlexMoney Technologies said: “We share ICICI Bank’s vision that the future of purchase finance will be a frictionless, integrated, cardless digital credit payment experience for the consumer. FlexMoney’s InstaCred platform provides a
Integrated merchant payment experience for ICICI Bank customers, enabling them to shop at our multi-category merchant network.

Online benefits of ‘Cardless EMI’

Instant and digital process – Customers can take advantage of the EMI facility in a completely digital, instant and secure way Broad Transaction Limit – Customers can get a pre-approved limit for purchases of Rs. 7,000 to Rs. 5 lakh Flexible tenure: Clients can select the tenure of their choice of 3, 6, 9 and 12 months Exclusive convenience: No other bank in India offers this convenience ∙ Wide range of categories: Facility is available in 2500 trademarks Electronic electronic products, home appliances, laptops, mobile phones, travel, fashion, sportswear and home decoration

Cardless EMI Online: Steps to Take

Here are a few simple steps to opt for the ‘ICICI Bank Cardless EMI’ feature: ∙

Login to the website / app of any of the 2500 e-commerce brands Choose the products or services> Choose ‘EMI without card’ as the payment option registrado Enter the registered mobile phone number> enter the PAN> enter the OTP The transaction is approved at this stage instantly

Cardless EMI Eligibility Verification

ICICI Bank customers can verify their ‘Cardless EMI’ eligibility for online purchases by texting ‘CARDLESS’ to ‘5676766’ or view the offers section in the iMobile app.

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