There is no money in the bank and even the credit card has not been made, yet you can make purchases, know the method

 

Today's time has become digital. Today we do most of our payments through UPI or credit cards. But not everyone has a credit card, and it is not possible to have cash in your account all the time. In such a situation, if you have to shop or spend, then you are left with no option. But in the era of digital banking, now you have the option of pay letter as well. In today's time, many e-commerce platforms like Amazon and Flipkart provide facilities like Pay Later. And recently, ICICI Bank has announced that it has launched easy EMI facility for UPI payments made by scanning the QR code. 

According to ICICI Bank, customers eligible for Pay Later can avail EMI facility in a convenient manner under the bank's 'Buy Now, Pay Later' service. This first-of-its-kind facility enhances the spending potential of millions of the Bank's customers as they can now buy products or services instantly by simply scanning the required merchant QR code at the store and paying in EMIs. 

Convenience for offline customers 

Please tell that this service will be valid only for offline customers. This facility can be availed across a range of transactions such as electronics, groceries, fashion apparel, travel and hotel bookings. Customers can pay for transaction amounts above Rs 10,000 in easy installments over three, six or nine months. The EMI facility for Paylater will soon be extended to online purchases as well.

Users will get this service

Nowadays maximum payments are done through UPI. In addition, customers are increasingly opting for UPI transactions through Pay Later, the bank's 'Buy Now, Pay Later' service. Keeping in view these two trends, the Bank has introduced the facility of Instant EMI for UPI payments made through Paylater. With this facility, millions of UPI payment customers can shop for medium to high priced items and pay in easy EMIs by scanning the merchant QR code. This feature provides utmost convenience. Customers can buy high value products on EMI in a secure, quick and digital manner.

ICICI started the first paylater scheme

Let us tell you that ICICI Bank was the first bank to launch the online PayLater facility in 2018, which enables customers to buy small ticket items instantly in a completely digital and paperless manner. The PayLater feature enables customers to shop online, pay bills and make payments instantly at physical stores with any merchant UPI ID.