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UPI Payments Now on Credit: Pay Later with BharatPe Flex
4 Jun
Summary
- Users can make UPI payments even without immediate funds.
- Enjoy up to 45 days of interest-free credit for payments.
- Repayments can be made in full or flexible EMIs over 3 to 12 months.
A new credit-on-UPI service, BharatPe Flex, has been introduced by BharatPe in partnership with YES Bank. This innovative facility empowers eligible users to conduct UPI transactions even when immediate funds are unavailable in their accounts. The service provides an interest-free credit period of up to 45 days.
Customers utilizing BharatPe Flex have the flexibility to settle their payments either in full before the billing cycle concludes or convert the amount into convenient equated monthly installments (EMIs). These EMIs can be structured over a period of 3 to 12 months, catering to diverse user needs. The onboarding process is entirely digital and approvals are reportedly completed within three minutes.
BharatPe Flex extends its utility across various UPI payment scenarios, including in-store QR code payments, online transactions, bill payments, and recharges. Users can track their expenses, credit limits, and repayment schedules directly within the BharatPe app. Additionally, eligible payments made through BharatPe UPI can earn rewards in the form of Zillion coins.
