India-based private sector lender HDFC Bank has launched EasyEMI on debit cards which will enable its customers to make payments in easy installments for the items purchased using their debit card.
The customers will have pre-approved loan amount which is available 24×7 and they can select EasyEMI option when swiping their debit cards while making payments at offline as well as online merchants.
EasyEMI offer can be used for purchasing consumer durables, consumer electronics, mobiles, furniture, fitness equipment, booking flight and train tickets, and availing medical treatment.
The bank has fixed INR 10,000 ($155) as the minimum amount to use EasyEMI option and the facility is available in three ways – EasyEMI on credit cards, EasyEMI on debit cards, and durable & lifestyle finance at merchant outlets.
HDFC Bank country head, card payment products, merchant acquiring services, and marketing Parag Rao said: “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.”