Future Group is considering extending short-term credit facility to its customers through a 'digital' non-banking financial company, Business Standard reported, citing two sources, who added that this is a part of Kishore Biyani's digital transformation strategy.

"Biyani's vision is to focus on the 20 million customers that come to his stores, and drive Rs 100,000 worth of business from them every year," one of the sources was quoted as saying in the report.

According to the report, for this, the company is depending on extensive data and analytics. Future Group will store consumer data, seeded from its retail touchpoints, for profiling, targeted marketing, and cross-selling, the report said.

The NBFC, which is believed to have already got the approval from the RBI, will provide up-front credit to customers at Future retail outlets, the report said, adding only those using FuturePay app would be able to make cashless checkouts. The dues, however, can be paid at month-end, the report added.

First Published:Aug 2, 2019 8:06 AM IST