BharatPe, YES BANK Launch ‘Pay Later With BharatPe’ Credit On UPI

New Delhi, Dec 22 (KNN) Fintech company BharatPe, in partnership with YES BANK, has launched ‘Pay Later with BharatPe’, a Credit on UPI solution powered by the National Payments Corporation of India (NPCI).

The product offers instant, paperless access to a UPI-linked credit line with up to 45 days of interest-free usage. Users can repay the amount monthly either in full or through equated monthly instalments (EMIs) ranging from three to twelve months.

Seamless Credit-Linked UPI Payments

‘Pay Later with BharatPe’ enables users to make payments using a credit line all merchant touchpoints, including scanning UPI QR codes, online shopping, bill payments and recharges through the BharatPe app. 

Users can track credit utilisation, limits and repayments securely within the app, offering a fully integrated and digital credit experience. The product provides flexibility through interest-free usage for up to 45 days and optional EMIs for longer repayment tenures. 

The users also earn guaranteed rewards in the form of Zillion coins on all transactions carried out via the BharatPe UPI app. These reward points can be redeemed for brand vouchers, products or utility bill payments.

Industry Perspective

BharatPe CEO Nalin Negi commented that credit penetration in India remains low, particularly for small merchants and new-to-credit consumers. He said the product aims to deliver a scalable and compliant credit solution to address spending needs of merchants and consumers.

Anil Singh, Country Head, Credit Cards and Merchant Acquiring, YES BANK, said the bank is a significant participant in the UPI ecosystem and will leverage its digital onboarding and underwriting capabilities to support customers originating from BharatPe.

BharatPe’s Financial Services Ecosystem

BharatPe stated that it is the only fintech company in India with an Non-Banking Financial Company (NBFC) licence through Trillion Loans, a stake in a Small Finance Bank (Unity SFB), and an Online Payment Aggregator licence.
Onboarding Process

To onboard, users need to access the ‘Pay Later’ option on the BharatPe UPI app, complete YES BANK’s KYC process, link the credit line to UPI, authenticate using Aadhaar, set a UPI PIN and begin transactions using the YES BANK-powered credit line.

(KNN Bureau)