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.
