SUMMARY
Now, advertisers will be able to pay Meta for advertising campaigns in monthly installments
Among all its existing markets, Meta has launched the financial support feature first in India
Advertisers can choose any amount between INR 3,200 and INR 5,00,000 to convert to EMIs to avail the facility
To ease the worry of working capital, social media giant Meta has introduced No-Cost EMI feature for advertisers in India. With this new feature, advertisers will be able to pay Meta for their advertising campaigns in monthly installments over three months.
However, this three-month tenure may be extended depending upon discussions with regulated partners. Among all its existing markets, Meta has launched the financial support feature first in India, Meta said in an official statement. Meta unveiled the new feature at the annual Grow Your Business Summit.
With this new feature, advertisers will be able to pay for their campaigns in equated monthly installments through participating banks at no additional cost of interest to them. As shared by the social media company, it will bear the applicable interest payable to the bank, and give it as an upfront discount to the business on its ad spends. As part of this No-Cost EMI, advertisers can choose any amount between INR 3,200 – INR 5,00,000 using credit cards of participating banks.
No-Cost EMI is currently supported on credit cards from 12 banks including Citibank, HDFC Bank, Axis Bank, Kotak Bank, ICICI Bank, SBI, IndusInd Bank, HSBC Bank, RBL Bank, Standard Chartered Bank, Yes Bank and Bank of Baroda.
Meta is also making it easier for small businesses in India to get quick resolution of their queries as it has announced a 24 x 7 chat support for all its active advertisers in India.
“With these announcements, every advertiser on Meta in India, irrespective of their ad spends, has access to financial and service support, at the click of a button to unlock new growth opportunities. We know that each business is on a distinct journey and we are committed to building India-focused solutions keeping in mind their unique needs,” Ajit Mohan, VP and MD (Facebook India) Meta, said.
Last year, Meta launched the Small Business Loans Initiative to enable Meta’s small business advertisers to take loans through third-party lending platforms. Now, this program has been expanded to 19000+ pin codes across India.
With this expansion, Meta advertisers from the smallest towns and villages can now apply for collateral-free business loans from as little as INR 30,000 to as much as INR 1 Cr.
