Now Reading: Super.money Launches SplitStore With Zero-Interest Instalments
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Super.money Launches SplitStore With Zero-Interest Instalments
Flipkart-backed Scapic Innovations has launched splitStore, a credit-linked shopping platform under the super.money brand. Customers can buy products across mobiles, fashion, electronics, appliances and other categories, then pay through a down payment…
The Story in Brief
Flipkart-backed Scapic Innovations has launched splitStore, a credit-linked shopping platform under the super.money brand. Customers can buy products across mobiles, fashion, electronics, appliances and other categories, then pay through a down payment and three zero-interest, zero-fee instalments. Products are delivered through Flipkart’s infrastructure, with brands including Apple, Nike, Adidas and Nothing listed on the platform.
Founder and CEO Prakash Sikaria told PTI that splitStore could contribute up to 20 per cent of platform revenue by December. Lending currently accounts for 85 to 90 per cent of revenue, and the company wants payments and commerce to contribute 20 per cent each. New users must complete KYC before accessing credit.
The Indian Opinion
The easy story is that zero-cost instalments make shopping safer for young buyers. The opposite claim, that every buy-now-pay-later product traps users, is just as sweeping. SplitStore’s closed-loop model limits credit to a listed purchase, but repayment discipline still matters. The useful test is whether customers complete the three instalments without hidden charges, and whether the company discloses consequences for missed payments clearly.
Source: rediff.com
This story was synthesised by AI from the source linked above.
