Future group partners Bajaj Finance to launch pre-approved store card

MUMBAI: Future group has partnered Bajaj Finance to launch a pre-approved cobranded store card that will allow customers to make purchases on interest free EMI or instalments as part of founder Kishore Biyani's strategy of 1X1— getting one crore customers to spend Rs 1 lakh per annum each by 2021.

"We believe credit financing will drive the next round of consumption growth. With this product we will change the landscape of consumption," said Biyani, Group CEO, Future Group.

"Why should we not take credit for everything?" he asked. Customers will have a pre-approved loan limit from Rs 35,000 to Rs 3 lakh. Both companies are also developing a unique data mining model.