SRINAGAR: HDFC Bank on Monday announced the launch of EasyEMI on Debit Cards which allows customers to make payments for items purchased using their debit card in easy installments, in a quick, convenient, and transparent manner. Customers will have a pre-approved loan amount available to them 24×7 and the entire process of making a purchase using debit cards in easy installments is completely paperless. Customers can simply swipe their debit card and select the EasyEMI option when making payment at offline as well as online merchants. Eligible customers will be informed by the bank on email as well as SMS.
“With EasyEMI on Debit cards, customers get a pre-approved loan offer on their debit cards which they can use with just one swipe at merchant outlets. We feel it is a simple, quick and convenient option for our customers to fulfill their desires particularly during the festive season. EasyEMI offer is an example of HDFC Bank using analytics, platforms like POS machines for payments in installments and removing paper work to truly harness the power of digital banking and offer choice and convenience to millions of our customers across the length and breadth of the country,” said Mr. Parag Rao, Country Head – Card Payment Products, Merchant Acquiring Services, and Marketing, HDFC Bank.
Customers can utilize the EasyEMI offer to make purchases on major e-commerce sites during their festive sales in a hassle-free and transparent manner. The EasyEMI offer on debit cards can be used for purchasing consumer durables, consumer electronics, mobiles, furniture, fitness equipment booking flight and train tickets; and availing medical treatment. The minimum loan amount that can be availed through EasyEMIis Rs 10,000.
In the first phase, pre-approved EasyEMI will be offered to about 8 million bank customers across different cities in India. With this launch, the bank offers easy installment facility to customers in three form factors – EasyEMI on Credit Cards, EasyEMI on Debit Cards, and Durable & Lifestyle finance at merchant outlets.
The EasyEMI on Debit Cards is the latest initiative in HDFC Bank’s digital banking offering christened GoDigital. This campaign began on the banks of the Varanasi in 2014, with the launch of its ‘Bank Aap Ki Muththi Mein’ offering, which literally converts the mobile phone into a bank branch. Since then the bank has launched a host of innovative digital initiatives.