Bajaj Finserv to offer new ‘EMI’ option on ecommerce platform

PUNE: Sanjiv Bajaj, Managing Director, Bajaj Finserv, said that he was looking at tapping into the startup ecosystem and perhaps take strategic stakes in fintech startups. Addressing a group of entrepreneurs at TieCon Pune last week, Bajaj said: “I spent some time in Silicon Valley recently and met some of the startups, half of which were run by Indians, as well as companies like Amazon and Microsoft.

We want to tap into the opportunities available there as well as in India and may look at investing in fintech companies, maybe even take a strategic stake if it makes sense for us.”

Bajaj also said that from May, his company would offer a Bajaj Finserv easy monthly installment (EMI) option for an ecommerce company. “We’ve been building a solution over the past one year and have created a tech solution which offers EMI options on ecommerce platforms,” he said.

This would be a major change in how the company offers EMIs at present, as these are typically for a specific product. On the ecommerce platform, the EMI would apply on the total order value and could be split across several products across different categories.