Affordability Suite
Learn about Pine Labs Affordability Suite and how it enables you to offer flexible EMI payment options on purchases.
With Pine Labs Affordability Suite, you can empower your customers with flexible payment options that reduce upfront costs and make high-value purchases more accessible. This feature is ideal for businesses looking to attract more customers, increase conversions, and expand into underserved markets across India, all while offering a seamless checkout experience.
Flexible EMI Options
Credit Card EMI
Allows your customers to transform high-value purchases into affordable monthly installments using their credit cards. The total transaction amount is deducted upfront from their credit limit and repaid in easy EMIs.
Business Benefit: This will benefit your business by improving conversion rates, increasing average order value (AOV), and allowing you to offer No-Cost EMI by covering the interest charges.
Debit Card EMI
Enables pre-approved debit cardholders to make purchases in installments, with monthly deductions directly from their savings account.
Business Benefit: Expand customer reach beyond credit card users, driving sales for mid-to-high-ticket items while ensuring upfront payments to merchants.
Cardless EMI
Provides customers the option to avail of EMIs without a credit or debit card by using their mobile number, PAN, or other KYC details, often linked to pre-approved limits from NBFCs or lenders.
Business Benefit: Attracts customers without traditional cards, offering a seamless digital approval process and enabling high-ticket purchases with upfront payment to merchants.
Downpayment EMI
The Downpayment EMI feature in Pine Labs v3 enables your customers to split their payments into an upfront down payment and subsequent EMIs. This feature will support interest subvention, cashback, and discount offers to enhance customer affordability and platform attractiveness.
Business Benefit: Downpayment EMI helps merchants increase transactions by making purchases more affordable for customers, while keeping the merchant’s cash flow intact, as the downpayment is received upfront and the issuer funds the rest.
Click Here For Comparison
| Feature | Credit Card EMI | Debit Card EMI | Cardless EMI |
|---|---|---|---|
| Eligibility | Requires a credit card with sufficient limit | Pre-approved debit cards linked to savings accounts | Based on pre-approved limits from NBFCs or banks, no card required |
| Interest Rates | Standard, Low-Cost, or No-Cost EMI options | Similar rates; No-Cost EMI may be offered | Typically similar to other EMI options; No-Cost EMI may be available |
| Customer Base | Limited to credit cardholders | Broader reach, including debit cardholders | Wider audience, including non-card users |
| Approval Process | Instant based on credit limit | Pre-approval by the bank for eligible users | Digital approval using mobile number, PAN, or KYC details |
| Payment Collection | Billed to the customer’s credit card | Direct debit from the customer’s bank account | Monthly debit from linked bank account or wallet |
| Best For | Credit card users looking for EMI flexibility | Debit card users without a credit card | Customers without cards who want EMI flexibility |
EMI Categories to Suit Diverse Needs
Bank EMI
Flexible payment solutions through partnerships with leading banks, ensuring broad accessibility and convenience.
Brand EMI
Brand-specific EMI offers supported by specific brands, giving your customers additional affordability on their favorite products.
Additional Customer Benefits
Low-Cost
NO INTERESTEnjoy flexible payments with reduced interest rates, making purchases more affordable over time. A portion of the interest charged by the issuer is subsidized, with the remaining cost borne by the customer. Subvention costs are shared by one or more entities, such as the brand or its partners.
No-Cost
REDUCED RATESEnjoy flexible payments with zero additional cost — pay only the product price in easy installments. The interest charged by the issuer is fully subsidized, with the subvention cost covered by one or more entities, such as the brand or its partners.
Standard EMI
STANDARDSpread your payments over time with standard interest rates, providing greater flexibility for your budget. This will have no subvention and the customer is expected to bear all the interest.
Post-Cashback and Instant Discounts
REWARDSEnhance your customer satisfaction with post-purchase cashback and instant discount options, providing immediate savings and added value.
Full Swipe Offer
A Full Swipe Offer allows your customers to pay the full transaction amount upfront using their card and later receive a cashback or discount. The funding for this offer is shared among multiple stakeholders, such as the brand, or issuing bank. Unlike EMI options, this type of offer incentivizes purchases by providing immediate financial benefit to the customer.
Example: A customer purchasing a product for ₹20,000 may receive a ₹2,000 cashback, funded collaboratively by the brand, and bank. The cashback or discount is either credited back to your customer's account after the transaction or applied directly at checkout, based on the offer terms.
Key Benefits
Attract more customers without directly lowering product prices.
Drive sales while distributing the cost of the offer among stakeholders, making it more sustainable.
Seamless integration into the checkout process ensures a smooth customer experience.
These offers are managed through predefined agreements between stakeholders, ensuring clear funding responsibilities, reconciliation, and transparency. Full Swipe Offers effectively enhance customer appeal while maintaining financial balance for all involved parties.
Updated 11 days ago