Multipl, the ‘save now, buy later’ platform that advocates the concept of investing to spend has launched a new digital advertising campaign, ‘EMI wala tag’.
The campaign is aimed at showing that what you buy is no longer the proof of how cool you are, instead how you buy it is what makes you cool or uncool. It encourages consumers to look at how they are purchasing things and remove the ‘EMI wala tag’ to avoid any losses.
The series' three advertisements emphasise the disadvantages of buying on BNPL EMI and attempt to shift the mindset of consumers.
The advertisements aim to show how Multipl is a smarter option with the globally new model of spending that Multipl has launched, i.e Invest To Spend.
Conceptualised and produced by Owled Media, Multipl’s latest digital film is written by Varalika Kataria and Rishabh Pande, and directed by Namit Nath.
Paddy Raghavan, CEO and Co-Founder of Multipl, said, “When we buy things on EMI, we run a risk of losing money on penalties and hidden charges. But even without these, one loses money by not investing to spend through Multipl. When you plan and invest for spending through Multipl, you can earn up to 20% more savings, and end up paying lesser every single time. If not saved smart and spend smarter, you are leaving money behind that could easily be yours every time you purchased.”
Three of the ads in the series stress how outdated and "uncool" it is to mindlessly keep buying on EMI for the sake of impressing others.
The first commercial shows how being asked about how a purchase was made can make someone feel like an imposter. The second advertisement exemplifies how people react when they learn that you are an "EMI wala" and how they may perceive you as fake or uncool. The third commercial shows how taking out an EMI is a losing proposition (of money).
“Multipl allows you to invest for your spending goals while also earning returns. Not just the personalised investments into the market help one multiply their savings before spending, the other highlight is that the top brands of the nation are now co-investing for increasing the value of users’ savings. So, you earn investment returns + brand co-invested MCash every month. When you're ready, you can make the purchase. There is no buyer's remorse, no stress about paying after the product is purchased, no debt, and no money lost with Multipl. So, in the end, it is the consumer who benefits, emphasising once more that the customer is king,” said Nimisha Sainani, Director of Marketing, Multipl.
“I was ecstatic about creating ads in which we proposed a positive aspect of spending smartly in a fun and quirky way. I am convinced that fintech finance is the future of the country, and Multipl will be at the forefront of it. I believe we have successfully demonstrated that the EMI trap is a losing proposition, both financially, and socially,” said Ayush Wadhwa, Founder of Owled Media.