In an attempt to improve online payment flexibility, Xiaomi India has partnered with ZestMoney for cardless EMI. This feature allows a customer to make EMI purchases even if he doesn’t own a credit card. Raghu Reddy, Online Sales Head, Xiaomi India said “By the addition of affordable EMI options without credit cards, we hope to provide a comprehensive purchasing experience for Mi Fans on Mi.com.” So let’s see more on this ZestMoney feature and how to set it in your Mi store account.

ZestMoney claims to be India’s first virtual EMI feature which enables credit without the card. Moreover, the enrollment and approval process takes less time. To setup ZestMoney, you need a valid PAN card, Aadhaar number and income verification via net banking(Perfios). The Aadhaar number is used to perform e-KYC of your account, while PAN is for filling up employment profile and income verification via net banking (Perfios) for accessing 3-month bank statement.

Xiaomi India Online Store Adds Cardless EMI : Powered by ZestMoney

With the advancements in digital authentication such as Aadhaar-linked e-KYC, we are able to instantly sanction EMI via a completely digital paperless process,” said Lizzie Chapman, CEO and Co-Founder, ZestMoney

How To SetUp ZestMoney in Mi Store

  1. Login to your Mi store account via the web.
  2. Go to MY MI and choose Cardless EMI.
  3. Enter your email id, and confirm it with OTP.
  4. Now enter your Aadhaar number and perform e-KYC.
  5. Fill up your income details and PAN.
  6. Verify your income using net banking(Perfios).
  7. Setup hassle-free repayments using a signed NACH mandate.
  8. Once the credit limit is active, choose cardless EMI option at checkout.

ZestMoney also has some exhaustive terms and conditions. We recommend every user opting for this payment method to clearly read those conditions and faq before proceeding.

Coming back to Xiaomi, their official online store is still not in able to deliver orders pan India. Due to this many Mi fans aren’t able to avail the festive offers or participate in events held on Mi store. Even then, via other online channels, Mi has managed to grab a 46.9% share of online smartphone market within a short span of time. Hope you enjoyed the write-up, Peace!

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