Flipkart’s Pay Later:  It's not interest free. 

By - Rajendra

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Lined Circle

Flipkart Pay Later is a credit-based payment option offered by the Indian e-commerce platform Flipkart.

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It allows customers to make purchases and pay for them at a later date - within a period of 14-30 days

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Once the sign-up process is complete, customers can start shopping on Flipkart as usual.

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sign up process 

Once the sign-up process is complete, customers can start shopping on Flipkart as usual.

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Shopping

When check out, you will have the option to select “Pay Later” as their payment method.

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Check out 

only apply for credit when it’s truly necessary

After the purchase is complete, Flipkart will send an invoice to the customer with the amount due and the due date.

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Billing 

Due Date - 5th 

pay the full amount by the due date or opt for an EMI plan if they prefer to pay in instalments

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No Interest -  Uses Fee - 15

Payment 

EMI option is not interest free

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EMI Interest Charges

heavy interest 24% + 1.5% processing fee means you pay 25.5% for your EMI.

monthly penalty of 5% of the outstanding balance

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Late Payment 

Means yearly 60% Late payment

Pay Later doesn’t require any additional documentation

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Benefit 

No Extra Documents

customers can use Pay Later to improve their credit score and make them eligible for other credit options

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Benefit 

Credit Building

Factors like credit score, purchase history, and payment history on the platform are considered when determining the eligibility

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 Eligibility Criteria

Pay Later offers - easy to use, credit building, easy track of transactions, and no extra documents required. 

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Flipkart’s Pay Later: An In-Depth Review of the Payment Option

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