Suzuki partners with Paytm, HDFC to offer cashless schemes

Suzuki Motorcycle India Private Limited (SMIPL), a subsidiary of two-wheeler manufacturer Suzuki Motor Corporation, Japan, has announced cashless schemes on all Suzuki products in partnership with Paytm and HDFC Bank.

The new partnership has come in wake of the demonetisation of old Rs 500 and Rs 1,000 notes. The company says customers can now book any Suzuki two-wheeler by paying Rs 20,000 through Paytm and financing the remaining amount, hence eliminating the need for any cash transaction. Customers would also benefit from Rs 3,000 cashback from Paytm upon vehicle delivery.

"We aim to limit the impact of demonetisation by providing our customers a convenient purchase alternative that is not dependent on availability of cash in hand. We will continue to stand with our patrons and ensure a delightful customer experience every time they visit our outlets," said Satoshi Uchida, managing director, SMIPL.

In addition to this, Suzuki is also offering 100 percent finance for its two-wheeler products from HDFC Bank for any government employee or HDFC bank account holder. For customers who have income proof, but do not have an account with HDFC, there is a limited period Low Down Payment Scheme with 90 percent finance for any Suzuki two-wheeler product.

Auto majors in India have come up with different schemes for cashless transaction after the demonetisation move. Recently, Nissan and Datsun said that dealers are promoting cashless payment options such as use of cheques, debit/credit cards and eWallets and cashless arrangements for body and paint work.