HDFC Bank partners with Arzooo to offer Purchase Cards to Retailers with up to Rs1 Cr credit
Bengaluru: HDFC Bank accomplices with retail tech stage Arzooo to send off buy cards that have been only intended for disconnected retailers. The point is to carry out north of one lakh such Mastercards over the course of the following a year.
The drive will quickly help north of 40,000 retail accomplices currently on the Arzooo stage notwithstanding a few other little and fair sized retailers as they will presently have simple admittance to capital.
“The accessibility of working capital is of prime significance to our retailers as it gives them headroom for development. Through this organization with HDFC Bank, we anticipate joining our foundation and HDFC’s skill to make a vigorous environment for scaling disconnected retailers,” Tushar Deshpande, VP of Arzooo said.
The critical element of this card is that it offers sans interest credit for as long as a month and a credit breaking point of up to Rs1 crore. Moreover, this card is coordinated with the Arzooo versatile application for convenience during checkout.
Arzooo accepts there is a gigantic undiscovered market in the level II and beneath urban communities particularly for the interest of white products. To open the potential open doors, retailers would require simple admittance to credit, which Arzooo expects to furnish with its cooperation with HDFC Bank.
During the current year’s happy season, Arzooo dispensed Rs. 100 Crore worth credit to retailers. There was development of 800% in the quantity of retailers that assumed praise this year through Arzooo Credit. Likewise, the deals on the stage became by 400% because of admittance to capital headroom and an expansion sought after.