Blinkit,the quick commerce platform, introduces an EMI (Equated Monthly Installments) option for its customers, allowing them to divide the payments for purchases over Rs 2,999.The option will be available on all the orders except those orders which contains gold and silver.

The new EMI feature is a part of Blinkit’s strategy to stretch its customer’s base and drive more significant purchases on its platform. With a growing number of consumers relying on quick commerce for grocery, household items, and more, this option can make larger orders more accessible.

By enabling consumers to spread payments over time could also lead to higher-value transactions, as per experts tracking this space.Currently, it has tied up with several banks such as HDFC, SBI, ICICI, Kotak Mahindra, Axis, RBL and CITI Bank to provide EMI options via credit cards.

For Blinkit, introducing EMI as a payment option put in order to focus on scaling up and increasing customer loyalty. Quick commerce is highly competitive, with companies like Blinkit, Swiggy Instamart, and Zepto all vying for market share. By facilitating such transactions, Blinkit aims to increase its average order value, a key metric in its growth strategy.

Early this week, Blinkit launched the Seller Hub to enable brands to manage their presence on the platform independently, without needing intermediaries. Over 200 brands already have access; the platform offers tools for brands to control their quick commerce operations efficiently.

Blinkit has emerged as a leader in the quick commerce space, and recently, HSBC valued it at around $20.8 billion, more than twice the valuation of its parent company, Zomato, which was valued at $9.2 billion by the banking firm.