BharatPe Flex: Understanding the Credit-on-UPI Product and Its Target Audience
BharatPe Launches BharatPe Flex, a Credit-on-UPI Offering
Fintech firm BharatPe has launched BharatPe Flex, a credit-on-UPI offering in partnership with YES BANK. This innovative service enables eligible users to make UPI payments through a pre-approved credit line instead of directly using funds from their bank accounts.
With BharatPe Flex, users can continue making payments across existing UPI ecosystems, including in-shop QR-code payments, online transactions, bill payments, recharges, travel, shopping, fuel, and other daily spends. This flexibility is integrated into the UPI experience, providing users with greater control over how they manage everyday expenses.
BharatPe Flex allows users to repay their outstanding amount within the billing cycle or convert eligible spends into equated monthly instalments (EMIs). The service also offers an interest-free period of up to 45 days, enabling users to pay on UPI and settle dues later.
YES BANK, a major player in India's UPI ecosystem, has been supporting the growth of digital payments through strong technology infrastructure and innovation-led solutions. The collaboration with BharatPe reflects YES BANK's commitment to providing a seamless Credit-on-UPI experience that offers customers greater flexibility in managing their everyday transactions.
Key Features of BharatPe Flex
| Feature | Description |
|---|---|
| Repayment Options | Users can repay the entire outstanding amount within the billing cycle, benefit from an interest-free period of up to 45 days, or convert eligible spends into EMIs. |
| Eligibility | BharatPe Flex targets users who make most of their payments through UPI but may occasionally need access to short-term credit. |
| Benefits | Provides a credit buffer without requiring users to switch away from their preferred UPI payment habit, and offers the convenience of paying immediately while spreading out repayment when required. |
By introducing BharatPe Flex, BharatPe aims to address the emerging need for greater flexibility and control over everyday expenses. The service is designed to be seamless and intuitive, combining the familiarity of UPI with the convenience of credit.
Investor Takeaway
BharatPe's new credit-on-UPI product, BharatPe Flex, may increase adoption of digital payments and provide users with greater flexibility in managing everyday expenses.
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