{"id":10683,"date":"2022-12-06T14:16:47","date_gmt":"2022-12-06T08:46:47","guid":{"rendered":"https:\/\/aayushbhaskar.com\/?p=10683"},"modified":"2022-12-06T17:04:44","modified_gmt":"2022-12-06T11:34:44","slug":"upi-based-pay-later-apps-in-india","status":"publish","type":"post","link":"https:\/\/aayushbhaskar.com\/upi-based-pay-later-apps-in-india\/","title":{"rendered":"5 Best UPI-Based Pay Later Apps in India","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
The newest advancement on the market at the moment when India is advancing toward the digitalization of the online payment ecosystem is that of applications that let users make purchases today and pay for them tomorrow. <\/span><\/p>\n These applications enable users to purchase items and services from vendors and make payments for them later, as the name implies. <\/span><\/p>\n T<\/span>he ideal answer to these problems is to use Pay Later applications, which securely and easily provide clients access to a line of credit without interest. <\/span><\/p>\n Existing payment alternatives that give a line of credit to clients have certain inherent limitations, such as going into your bank account in order to complete every transaction and providing data such as bank details, PIN, and others in order to effectively complete the transaction. <\/span><\/p>\n In this piece, we’ll take a detailed look at the pay-later method UPI-based and vendors who provide it to their clients.<\/span><\/p>\n PayLater is a concept that allows customers to make purchases and pay for them later. The concept is comparable to that of a credit card<\/a>, however, no real credit card is present. <\/span><\/p>\n A transaction can be simply completed and the amount settled at the conclusion of the credit cycle, which is typically 14 days long. <\/span><\/p>\n When compared to a credit card, the PayLater method is often deemed safer and more smooth because no sensitive information such as credit card numbers and account details are required. <\/span><\/p>\n As the market for PayLater applications grows at an exponential rate, many shops have included them as a payment option.<\/span><\/p>\n ICICI was the first bank in India to offer consumers pay later options. ICICI’s credit limit ranges from INR 5,000 to 20,000, depending on the customer’s income and creditworthiness.<\/span><\/p>\n <\/p>\n To pay their bills on time, people can easily link their bank accounts to the pay later service and choose an auto debit option.<\/span><\/p>\n LazyPay is one of India’s most popular purchase now, pay later alternatives. With a paperless KYC procedure, it provides a quick credit line. <\/span><\/p>\n You can either scan and pay or use your UPI ID to deal with all UPI-accepting businesses. Offline retailers and online services such as Ola, Uber, Flipkart, Myntra, Zomato, Swiggy, Bookmyshow, and others accept payment.<\/span><\/p>\n <\/p>\n If your transaction exceeds \u20b910,000, you can convert it to Easy EMI based on available options. The app provides a 15-day interest-free period after which you must repay and settle the account (on the 3rd and 18th of each month). <\/span><\/p>\n You can pay automatically or manually using UPI, online banking, or a debit card<\/a>.<\/span><\/p>\n Jupiter Edge is a reliable postpaid UPI app from the Neo banking platform. It provides up to \u20b910,000 in credit for UPI payments with no interest. This credit limit can be used to pay both online and offline retailers who accept UPI payments. <\/span><\/p>\n You can use the app to spend money on applications like Swiggy, Zomato, Amazon, Myntra, Bigbasket, and others.<\/span><\/p>\n <\/p>\n It also allows you to pay bills in-app. This covers cell phone recharge, power, water, and gas bills, among other things. <\/span><\/p>\n Every month, on the 15th and final day of the month, a bill is created. After the bill is generated, you have five days to make the repayment.<\/span><\/p>\n Paytm is one of India’s most popular payment applications. Paytm Postpaid is a pay-later option that Paytm gives to its active consumers. <\/span><\/p>\n You can use the Postpaid service to pay for qualifying services or partner merchants. When Postpaid is available, it will be displayed in the payment choices.<\/span><\/p>\n <\/p>\n Recharges, bill payments, Paytm Mall shopping, and other merchants around India are all included. Paytm is now the most popular platform in India for money transfers, BHIM UPI payments, recharges, and other online payments.<\/span><\/p>\n Every month, a bill is created. Your Postpaid spend limit is determined by your transaction history, Paytm relationship, and credit history.<\/span><\/p>\n Money from MobiKwik ZIP can be transferred to banks and used to pay bills, buy items offline and online, buy train tickets, and so on. <\/span><\/p>\n Within a billing cycle, subscribers can obtain a credit of up to INR 60,000 at no interest. If the billing cycle is exceeded, the corporation is permitted to impose interest on the credit line. <\/span>The billing cycle lasts 21 days.<\/span><\/p>\n <\/p>\n The portal has discounts and deals that change practically daily, allowing you to earn cashback on timely repayments and more. <\/span><\/p>\n You can also utilize the platform or other services such as bank transfers, recharge and pay bills, and so on.<\/span><\/p>\n The concept behind purchasing now, and paying later is that consumers can acquire what they need right now while still receiving some more time to pay for it. If you can’t or don’t want to pay for something all at once, buy now, pay later financing may sound enticing. <\/span><\/p>\n These loans prolong your credit without imposing high-interest rates, but with a repayment plan, so you don’t wind up with a mound of continuous debt. <\/span><\/p>\n However, examine if the payments are affordable and what penalties you could face if you can’t pay. Read the small print on the purchase now, pay later finance carefully so you completely grasp the terms you’re committing to.<\/span><\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":" The newest advancement on the market at the moment when India is advancing toward the digitalization of the online payment ecosystem is that of applications that let users make purchases today and pay for them tomorrow. These applications enable users to purchase items and services from vendors and make payments for them later, as the …<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":13,"featured_media":10691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[39],"tags":[212,171,328,329],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/aayushbhaskar.com\/wp-content\/uploads\/2022\/10\/Best-UPI-based-Pay-Later-Apps-in-India.png","acf":[],"yoast_head":"\nWhat is pay-later?<\/span><\/h2>\n
Best UPI Pay later apps in India<\/span><\/h2>\n
1. <\/span>ICICI Bank<\/span><\/a><\/h3>\n
Features<\/span><\/h4>\n
\n
2. <\/span>LazyPay<\/span><\/a><\/h3>\n
Features:<\/span><\/h4>\n
\n
3. <\/span>Jupiter Edge<\/span><\/a>\u00a0<\/span><\/h3>\n
Features<\/span><\/h4>\n
\n
4. <\/span>Paytm Postpaid<\/span><\/a><\/h3>\n
Features<\/span><\/h4>\n
\n
5. <\/span>MobiKwik Zip<\/span><\/a><\/h3>\n
Features<\/span><\/h4>\n
\n
Conclusion<\/span><\/h2>\n