PayU Monedo collaborates with Onlymobiles.com

In the wake of rapid digitization, PayU Monedo has joined hands with Onlymobiles.com, an online and offline omni-channel, to offer its consumers online mobile purchase at No-Cost EMIs. The offer can be availed by customers who do not have a credit card. Hence, offering both cashless and cardless purchase option, the partnership with PayU Monedo will help the buyers pay through a monthly EMI for the duration ranging from 3 months to 36 months.

According to the company, this association is a step to bridge the existing gap among underbanked markets and areas using a digital platform. Designed to be in sync with the Digital India campaign, the partnership will help Onlymobiles.com expand its reach and customer base. “Our association with PayU Monedo has helped us not only to contribute in the Digital India campaign but also empower the consumers with more purchasing power. Our offer to buy mobiles at flexible EMI with No Cost to Customer will surely encourage more people to convert into online shoppers. With this partnership, we aim at offering hassle free and quick mode of payment,” said Sanjeev Bhatia, Co-Founder, Onlymobiles.com.

The partnership is a blend of innovative technology and state-of-the-art fraud detection and eKYC verification process. As a result, the customers opting to purchase mobile online from Onlymobiles.com, will be checked for their credit ratings. However, use of latest technology ensures a less than two minutes of time in the completion of the application process. The process not only eliminates any human intervention but also shortens the cumbersome process usually involved in making payments through EMIs.

“We are constantly thriving to bridge the underlying gap for credit and use innovative technology to offer an alternative payment method in the checkout process. Partnering with Onlymobiles.com will enable us to give more shopping options to the consumers and help them buy products at flexible EMIs even in the absence of a credit card,” said Gurjodhpal Singh, Business Head, PayU Monedo.

PayU is one the leading gateway provider in India and has significant contribution in Digital India Campaign. Hence, the partnership will help Onlymobiles.com to expand their business, tap new market segments and increase its conversion rate. “PayU Monedo has been successful in reaching the farfetched areas of our country. With this association, we expect our customer base not to only expand but also reach the last mile,” he added.

The option of the new payment method will be available at the checkout, where the customers also choose from other flexible repayment options using PayU. Onlymobiles.com is an online and offline omni-channel, selling pocket gadgets such like Mobile Phones, Wearables, Tablets and Accessories.

The company currently has a pan-India reach across 21,000 PIN codes in India, which is contributing to almost 85% of their mobile business. They also have 129 brick-and-mortar offline retail outlets across the country.