New Delhi, Oct. 7 -- Fintech startup Kiwi has announced 'Interest-Back EMIs (Equated Monthly Instalments) on UPI (Unified Payments Interface)' that allows consumers to split big-ticket purchases into easy instalments and earn back the interest paid as cashback.

With this feature, a 3-month EMI comes with 100% cashback on interest, making it effectively interest-free, while 6 and 9-month EMIs offer 50% cashback on the interest amount.

"Customers can pay at any UPI merchant by simply scanning a QR (code) or making an online payment, select "Pay with EMI" in the Kiwi app, view charges upfront, authenticate with their UPI PIN, and instantly receive cashback on the interest portion. This eliminates the need for a physical card, ensures trans...