Bank introduces instant credit card
Even if you do not issue a credit card even after all your efforts, this news will make you happy. Yes, the Mumbai-based Instant Credit Faselting Startup Epaper (EPayLater) has entered into an agreement with private sector IDFC bank. Under this, credit limit will be provided to customers using Bhim. On behalf of the EPayLater, customers will be given the facility to make credit payments on such outlets where the facility of payment from either the UPA Payment or India QR payment.
3.5 million credit card holders in the country
Co-founder Rico Bhattacharya of the ePayLater told that there are 35 million credit card holders in the country. In such cases, the customers who want to use the small credit limit for some transactions, can use the ePayLater. Bhattacharya said that payments made through ePayLater will be re-paid within 14 days. For this, EPayLater has tied up with IDFC Bank.
20 thousand credit facility
Under this, credits can be made available to customers who use Bhim UPi. According to a news published in a Hindi daily, a one-time credit facility will be available for up to Rs 20,000.
About this, Avtar Monga, COO, IDFC Bank, says that customers have many options besides credit card to pay after the ban on payment. Digital payments are much safer and faster. In such cases, customers who do not issue bank credit card. For such people IDFC Bank has started this facility with the ePaper. It customized in Bhim, so that digital credit can be provided to Bhim Upi users.
Such Use Credit Limit
For this, customers must first download the E Pay Later app. Depending on the credential of the user, a fixed loan amount determined. This user will be able to use it according to your needs. But it paid within 14 days. No interest paid on the amount used for 14 days. After 14 days, interest charged 3% per month.