Grameenphone and PalmPay Launch Cardless EMI for Smartphones, Making Digital Access Affordable for All2 min read
Grameenphone, in collaboration with PalmPay, has launched an innovative cardless EMI (Equated Monthly Installment) campaign to make smartphones more affordable and accessible to millions of customers, marking a significant step toward bridging the digital divide in Bangladesh. This initiative is designed with a customer-first approach—simple, seamless, and inclusive. It aims to break down financial barriers, connect communities, enhance digital literacy, and empower individuals across the country, said in press release.
Under this program, customers can choose from a range of popular Tecno and itel Smartphone models, available at all Grameenphone Centers (GPCs) and selected partner outlets across the country. The scheme offers flexible loan options. Customers are required to make a minimum 15% down payment, while the remaining balance can be paid through convenient monthly installments up to 09 months through MFS/ selected banks- eliminating the need for a credit card.
To ensure responsible borrowing and secure repayments, smartphones purchased under this scheme will feature a smart locking system. This system provides periodic payment reminders and safeguards the device in case of non-payment, ensuring a secure and user-friendly experience for customers.
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Solaiman Alam, Chief Product Officer, Grameenphone, said, “At Grameenphone, we believe that digital connectivity should be within everyone’s reach. Our partnership with PalmPay reflects our unwavering commitment to making smartphones more affordable and accessible. By providing flexible financing options without the need for a credit card, we are empowering millions to embrace digital opportunities, bridging the digital divide and driving inclusive growth.”
Jun Zeng (Ethan), Managing Director of PalmPay Limited, added, “Smartphone access is a gateway to digital education, financial inclusion, and new economic opportunities. With this initiative, we are enabling millions of Bangladeshis to embrace digital life through a secure and accessible financing model.”
Rezwanul Hoque, CEO of ISMARTU Technology Bangladesh Limited, said, “This collaboration between Grameenphone and PalmPay is a timely initiative that will make smartphones from TECNO & itel more accessible to a wider range of customers. By introducing flexible installment options, it opens new doors for many who were previously unable to own a smartphone due to financial limitations. We’re glad that ISMARTU’s range of quality devices can now reach more people through this meaningful partnership.”
This initiative is a significant step toward democratizing smartphone ownership in Bangladesh, connecting more people to the digital world, and fostering long-term socioeconomic development.
To know more about the products, please visit: Card less EMI for Smartphone Purchase | Grameenphone
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