Want to pay later? Choose from these new-age cards

pay later app in india — Image Source : FREEPIK
Want to pay later? Choose from these new-age cards

A lot of us face a cash crunch once in a while and to solve this short-term liquidity crisis people depend on high-interest lenders, friends, family members and sometimes even break FDs and other savings. However, many Buy Now Pay Later (BNPL) products are available in the market today that can address this issue. BNPL products are convenient as people get instant access to credit. The borrower can also monitor all transactions diligently and choose a smart repayment tenure.

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

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 spending 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 Rs 20,000 to Rs 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 Rs 2,000-Rs 20,000. This limit is typically used for e-Commerce 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.

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 millennials. It challenges the traditional credit card ecosystem by offering simplified credit solutions to consumers. Slice provides millennials with a credit line starting from Rs 10,000 up to Rs 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.

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.

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.