Bank Cardless EMI’ (Equated Monthly Instalments), the facility will help lakhs of its pre-approved customers in buying their favorite gadgets or home appliances with the help of their mobile phones and PAN. Cardless EMI is an exclusive payment option for users who prefer to pay for goods at their own convenience rather than before delivery.
Customers can avail of this facility across pan-India outlets of leading retailers who have partnered with Pine Labs/Cards Up in which they issue a card-less EMI invoice instead of a physical credit or debit card. what is cardless EMI? EMI stands for Equated Monthly Instalments, Cardless EMIs make it easier than ever to purchase or replace the things you need. Simply provide your registered mobile number, and pay for it in easy monthly installments including interest. With no fixed tenure for purchases, you can use this special facility when you want, and pay off the balance before 26 weeks whenever you want.
Pine Labs, a leading technology start-up in consumer payments, has partnered with Bank to launch the first credit cardless EMIs (equated monthly installments) program in India. Consumers can now purchase an item at any 1 lakh of Pine Lab’s merchants across the country and make EMI payments by scanning their Bank QR code generated virtual credit card on the Pine apps. This will allow them to pay using existing Pine money in a fast, secure, and convenient way.
The buyer has to simply choose the monthly installment option, key in his/her registered mobile number, PAN, and OTP (received on mobile) to open a link for the ‘Cardless EMI’ transaction. The buyer can view the outstanding balance, down payment made and outstanding EMIs for any buy online/offline or across channels.
Easily and conveniently pay at least 50% of your purchase amount instantly using the cardless EMI facility from Bank. Cardless EMI is a user-friendly, card-free, and bank-on-mobile based payment method, which allows you to make payments through your debit card or Internet banking credentials, at select retail outlets of your choice
We at Bank bring to you a unique credit product that offers the convenience of purchasing any gadget on zero interest EMI’s from your Debit Card. A simple online process enables you to make the purchase on the very first day and avail the instant benefit of paying using your Debit Card. The money gets debited directly from your bank account on the date of purchase and the entire process is hassle-free.
India’s leading brand has launched an industry-first ‘Cardless EMI’ facility to enable pre-approved customers of partner Banks to avail of instant EMI on purchases from a large number of participating merchant outlets without any need for a credit card or debit card. What it means for customers is that the process will be quicker and smoother, with no loss or theft of cards or frequent PIN entries that can disrupt a seamless shopping experience. The aim is to enable millions of pre-approved Bank customers in the ongoing festive season to purchase products of their choice in a completely contactless, digital, and secure manner.
PineLabs launches ‘Cardless EMI’ on all products across categories in its portfolio. This is a first-of-its-kind merchant facility delivery on Pine Labs’ platform and will enable customers to shop online without the need for a credit or debit card.
