In traditional practice, if any consumer wants to buy any mobile/laptop- they buy though ecommerce sites and after that, they will have privilege with their banks to convert as EMI, nothing but a taking loan from the bank and paying to e-commerce sites. Imagine if u buy from the bank directly instead of ecommerce, end of the day consumer expects better price and quality product. Mostly online ecommerce business dealt with branded products, so service and warranty took care of the companies. In this scenario, either bank will become e-commerce – or ecommerce will act like banks for giving loans to buy the products. Usually, banks won’t change their business model, coming to e-commerce, they started doing this.
In Ali express as a merchant, once after verification, they are giving $10,000 worth of products to sell on same alibaba website – charging less interest rates. Instead of going to banks and following all formalities, this will be an easier thing for merchant. Similar way flip kart wants to implement the same in indian market.
Catchway implemented seller platform like amazon, flip kart by using magento.