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Want To Pay Later? Choose From These New-Age Cards

Here are a few players who can help you tide over month-end liquidity issues and help you manage expenses smartly by offering easy and flexible repayment options.

A lot of us face a cash crunch once in a while and to solve this short-term liquidity crisis we usually depend on high-interest lenders, friends, family members and sometimes we even break our FDs. However, many Buy Now Pay Later (BNPL) products in the market have emerged to solve this issue. BNPL products are convenient as we can get instant access to credit, we can also monitor all transactions diligently and choose a smart repayment tenure. Here are a few players who can help you tide over month-end liquidity issues and help you manage expenses smartly by offering easy and flexible repayment options.

Ola Money Postpaid

Ola Money Postpaid is a fast and easy digital credit payment system from Ola which allows users to pay for their Ola rides and various other online services. It is said to be an effort by the company to wean users off cash payments while also doing away with wallet recharge. Ola offers this credit facility to the customers without any additional charges and aims to offer its customers a hassle-free payment option. It allows its users to accumulate rides on Ola and then collectively make the payment for the 15 days of charges in one go.

Slice

slice is a fintech startup focused on India’s youngsters, aiming to build a smart, simple, and transparent financial platform to redesign the financial experience for the millennials. It challenges the traditional credit card ecosystem by offering simplified credit solutions to consumers. slice provides millennials with a credit line starting from ₹10,000 up to ₹10 lakh. It has a smooth onboarding process, and the app is designed to be highly interactive, intuitive, and relatable to millennials and Genz – helping them demystify the complexities of traditional banking. The slice super card also provides up to 2 per cent rewards on every card transaction and is instantly redeemable to cash. Through the slice app, one can have complete control of their card – track their expenses, and repayment schedule and the card can also be used across millions of merchants as it runs on the Visa network.

Uni

Fintech startup Uni recently launched its pay later card called Pay 1/3rd, it is the longest interest-free credit period card in the market. The card automatically splits the transactions into 1/3rd, allowing consumers to pay their monthly spends in three parts over three months for no extra charges. Or you could pay upfront and get 1% cashback. Pay 1/3 provides a credit limit in the range of ₹20,000 to ₹6 lakh. For the Pay 1/3 card, one can download the app from Play Store and then sign-up for the card through a quick process. The digital card is activated immediately, while the physical card is delivered within two to three days.

Simpl

Simpl, founded in 2016, is a short-ticket mobile-first lending platform that offers easy credit at points of sale and eCommerce checkout. Aiming to reimagine the trust-based relationship between merchants and customers to avail easily accessible line of credit. Simpl gives users a custom credit limit in the range of INR 2K – INR 20K. This limit is typically used for eCommerce purchases or at the retail checkout. Simpl prefers to stick to low ticket sizes since it involves no documentation. It claims zero time lag for accessing credit.

LazyPay

LazyPay is a payment service that has been built to provide you with an easy payment option for your day-to-day purchases. LazyPay offers ease of transaction at multiple merchants. You have the flexibility to club all LazyPay transactions and make consolidated payments through the LazyPay dashboard. A consolidated invoice summary is generated on the 1st & 16th of every month. You can pay back the amount right after the transaction until the next due date to avoid late penalty charges. The due date is 3 days after the invoice summary generation.

Source: Business World

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