Digital credit solutions provider ePayLater has partnered with IDFC Bank to introduce instant digital credit in India.

The service will be available to all individuals transacting online and offline using BHIM UPI, a real-time payment system developed by National Payments Corporation of India.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

This ‘Buy Now, Pay Later’ credit facility eliminates the hassles of a long application process and works like a credit card.

Individuals, merchants and small businesses can avail this real-time credit for their purchases using BHIM UPI.

The users can avail credit and transact with a 14-day interest-free period from the purchase date to pay outstanding bills.

The ePayLater application, through which the service is available, uses advanced machine learning techniques to carry out a real-time credit assessment.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The credit limit depends on the customer’s buying patterns, digital footprint, social media information and device information.

Customers can use this credit limit for both, online and offline purchases.

Currently, the app is available on Google Playstore and is expected to be launched at Apple Store soon.

ePayLater co-founder Aurko Bhattacharya said: “The penetration of credit cards has been abysmally low in our country.

“Now thanks to 320 million smartphone users and government initiatives in the form of UPI digital payments are gaining traction.

“Through this initiative, we intend to use the wide network of UPI to empower the common man, by providing credit whenever and wherever they wish to use it.

“In other words, this would put credit cards in the hands of millions without the need for a physical card or the hassles of a cumbersome application process.”