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Flipkart Is Now Letting Users Buy Things On Credit With Its Buy Now, Pay Later Option - OfficeChai
Nobody on OfficeChai’s staff appears to have been deemed sufficiently credit-worthy to be picked, but users have reported finding as much as Rs. 5000 in credit under the My Account tab in their Flipkart apps. This amount can be used to make purchases on Flipkart without any immediate payments. On the 1st of the next month, Flipkart will send notifications around what their bill was, and the payments will have to be made by the 10th, either through net banking, debit card, or credit card.
Flipkart will hope people pay up on time, but plans to punish defaulters. The company will levy a penalty of Rs 100 for outstanding amounts up to Rs 2,000, Rs 200 for outstanding amounts between Rs 2,001 and 4,001 and Rs 400 for outstanding amounts Rs 4,001 and above, says the FAQ section of Flipkart Pay later. Further defaults will lead to suspension of subsequent purchases from the account.