It’s not just banks. Stumbled upon this business called zest money today.
Looks to have quite a following although am not sure how big they are. They seem to be offering EMIs on all major online shopping portals like Amazon, Flipkart or Jabong.
Looks to be pretty straight-forward in terms of usage.
Looks to have raised money from PayU and Xiaomi
https://www.crunchbase.com/organization/zestmoney#section-funding-rounds
These PE-backed businesses can be quite a pain in terms of fragmenting the market which is what has happened in the diagnostic businesses. Even if these may never end up big, they can causing tremendous pricing pressure and grab market share as they are ready to burn cash for extended periods of time.