BharatPe has introduced the launch of ‘Pay Later with BharatPe’, a credit-on-UPI product developed in partnership with YES Financial institution and powered by the UPI developer NPCI, because the fintech agency expands its push to widen entry to short-term digital credit score for shoppers and retailers throughout India.

The brand new providing permits customers to make funds utilizing a pre-approved credit score line throughout all UPI service provider touchpoints. This consists of scanning any UPI QR code, procuring on-line, paying utility payments, or finishing cell and DTH recharges by the BharatPe app.

Based on BharatPe, ‘Pay Later with BharatPe’ offers instantaneous UPI-linked credit score with no paperwork or delays. Customers can spend every day and repay month-to-month, both in full or by versatile EMIs starting from three to 12 months. The ability affords as much as 45 days of interest-free credit score, with limits refreshed upon compensation. Prospects can monitor utilization, obtainable limits, repayments, and EMIs straight throughout the app, and full repayments securely by way of UPI.

Nalin Negi, CEO of BharatPe, mentioned credit score penetration in India stays restricted, particularly amongst small retailers and first-time debtors.

“With ‘Pay Later with BharatPe’, we’re unlocking a large alternative to ship a compliant, scalable, and handy credit score resolution that addresses each retailers’ and shoppers’ spending wants,” he mentioned.

Anil Singh, nation head, bank cards and service provider buying at YES Financial institution, mentioned the financial institution will leverage its digital onboarding and underwriting capabilities to serve prospects originating from the BharatPe platform and past.

As a part of the providing, customers additionally achieve entry to BharatPe UPI Rewards, below which they earn assured rewards within the type of Zillion cash on transactions carried out by the BharatPe UPI app. These cash will be redeemed for model vouchers, merchandise, or for paying utility payments.