Meta allows Indian advertisers to pay for their ad campaigns in “no-fee” monthly installments – TechCrunch

Meta has introduced a feature allowing its advertisers in India to pay for their advertising campaigns in “no-cost” monthly installments for more than three months – a move to help the social media giant grow its advertising business in the South Asian country. South.

Announced at its annual business-focused summit on Tuesday, the feature allows Meta advertisers to convert their advertising payments between $40 and $6,300 into equal monthly installments. Advertisers need to pay for their advertising campaigns using credit cards from banks such as Citibank, HDFC Bank, Axis Bank, ICICI Bank and State Bank of India to qualify for the fee-free EMI payment option.

Participating banks will charge interest on the transaction amount. However, Meta said it would bear the applicable interest payable to the bank and give it as an initial rebate to the advertiser on its ad spend. The idea is to encourage small businesses across the country, which might be feeling an economic pinch, to buy ads on Facebook and Instagram.

Meta also announced 24×7 chat support for all of its active advertisers in the country. Support will be available through the Meta Business Help Center.

The Menlo Park-based company invested $5.7 billion in Indian tech giant Jio Platforms in 2020 to digitize the country’s small businesses. With this in mind, the latest measures, including financial support for advertising and offering a 24-hour chat service for advertisers, would help the company strengthen its revenue generation in the Indian market, while expanding its presence.

“With these announcements, every advertiser on Meta in India, regardless of their advertising spend, has access to one-click financial and service support to unlock new growth opportunities. We know that every business follows a distinct journey and we are committed to creating India-focused solutions with their unique needs in mind,” said Ajit Mohan, VP & GM (Facebook India) Meta, in a prepared statement.

Last year, Meta launched a program to help small and medium-sized businesses get loans. The company said the program has expanded to more than 19,000 postcodes across the country.

Meta identifies India as its largest market in terms of users, but not revenue. It strives to work with small businesses nationwide to expand its reach on both fronts.

The company’s biggest market in terms of users may be India, but the country falls far behind in terms of revenue. Meta does not break down its revenue by country, but its annual ad revenue growth in Asia Pacific was 13%, its strongest (PDF) globally. In contrast, the company’s advertising revenue in North America and Europe fell 4% and 12%, respectively. However, Asia-Pacific’s overall revenue (PDF) was $5.90 billion, less than half of the $13.25 billion generated in North America. This underscores both the gap Meta wants to close, but (given the growth so far) the potential opportunity it has to do so if it can find the right approach.

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