adsense

Showing posts with label ePayLater. Show all posts
Showing posts with label ePayLater. Show all posts

Tuesday, May 8, 2018

Should IDFC Bank advice ePayLater to integrate BBPS into it’s platform?




          In August 2017, ePayLater announced a tie-up with IRCTC to boost its lending portfolio. Thought the tie-up IRCTC registered users could create a profile on ePayLater and use the ePayLater credit line to book tickets via IRCTC.

          The main advantage of the ePayLater facility was the time saved in bypassing the payment gateway, thereby enhancing the payment success rate.

          The 3.50% service charge was a drawback however the users need not pay the payment gateway service charges.

          Based on the repayment cycle of IRCTC users of ePayLater credit line, the   users credit line would be increased or decreased. An enhanced credit line, would be beneficial for ePayLater users to transact on other partner platforms.

          Now, IDFC and ePayLater have announced a partnership to harness the benefits of UPI to ramp up volumes.

          Through the UPI channel, ePayLater looks forward to offer its services to the whole bank accountholders irrespective of whether the merchant is on ePayLater platform or not.

          In simple words, through UPI channel, the individual merchants need not be part of the ePayLater platform to offer ePayLater facilities to its buyers.

          It is sufficient if the merchant has a UPI handle to accept through UPI channel. Nothing more, nothing less.

          This innovative offering opens a new path for IDFC and ePayLater to acquire new customers

          As of now, this is the message displayed on ePayLater website

          So, we have to wait for the actual process flow.

          Benefits of ePayLater integrating BBPS on its platform

          Benefit 01) The bills are directly fetched from the BBPS channel into the ePayLater platform.

Benefit 02) ePayLater users can settle the Bill Amount on the due date and avail the 14 days free credit line.

Benefit 03) It offers ePayLater users to transact more often and enhance their credit line.

Of course, BBPS Service Charges would have to be borne by ePayLater only.






LinkWithin

Related Posts with Thumbnails

Disclaimer

The thoughts in this BLOG are personal, and reflect only my view on the subject.
This are not the views of my Employers.
All images, logos rights rest with the Original TitleHolders

All efforts have been made to make this information as accurate as possible, N Prashant will not be responsible for any loss to any person caused by inaccuracy in the information available on this Website. Relevent Official Gazettes Communications may be consulted for an accurate information. Any discrepancy found may be brought to the notice of N Prashant