flexpay, buy now pay later, buy now pay later apps, buy now pay later sites, vivifi
FlexPay
Not just e-commerce firms but fintech companies startups are also focussing on buy-now-pay-later options, wherein a customer can buy an item and get interest-free credit.
However, a Hyderabad-based non-banking finance company, called Vivifi India Finance has provided a similar kind of service to it’s UPI users.
The Company has launched payment option called “FlexPay”, which enables users to avail of the “scan now and pay later” option on Unified Payments Interface(UPI) payment, if they don’t have funds available in bank accounts or virtual wallets. Livemint report.
Founder and ceo of Vivifi: Anil Pinapala, said “FlexPay” is the company’s vision of expanding credit access to non-prime and low-income borrowers who rely on friends and family, or unlicensed money lenders when they face cash crunch.
As per Anial Pinapala “FlexPay” will help Kirana stores or Physical stores that do not process credit-card payment but offer credit by themselves to retain customers.
Within the last two months, over 30,000. customers, have already used Vivify’s credit-to-pay option (buy-no-pay-later) for transactions worth nearly Rs.3 crore The company also enables peer to peer transactions.The company plans to supply services to 40crore-plus ‘under served customers’ and prime customers.
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