Grameenphone and PalmPay launch cardless EMI for smartphones

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 nationwide.

Under this program, customers can choose from various popular Tecno and Itel smartphone models, available at all Grameenphone Centres (GPCS) and select partner outlets nationwide. The scheme offers flexible loan options. Customers must make a minimum 15% down payment, with the remaining balance payable through convenient monthly instalments of up to 9 months via MFS or selected banks, eliminating the need for a credit card.

Smartphones purchased under this scheme will feature an innovative locking system to ensure responsible borrowing and secure repayments. This system provides periodic payment reminders and safeguards the device in case of non-payment, ensuring a safe and user-friendly experience for customers.

Solaiman Alam, Chief Product Officer, Grameenphone, said, "At Grameenphone, we believe 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 a credit card, we empower 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. This initiative enables 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. Introducing flexible installment options 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 reach more people through this meaningful partnership."

This initiative represents a significant step toward democratising smartphone ownership in Bangladesh, connecting more people to the digital world, and promoting long-term socioeconomic development.