UPI Now Pay Later: There has been a huge jump in digital transactions in the country in the last few years. The biggest contribution in this has been UPI i.e. Unified Interface Payment. Yes, UPI has taken the country towards cashless very fast. This is the reason why most people are using it today. In such a situation, a big good news has come for you. Actually, a new service has been started in UPI. The name of this new facility is UPI Now Pay Later. Know what this facility is and how it can be used.
Benefits of UPI Now Pay Later
Under UPI Now Pay Later, even if you have zero balance in your bank account, you can make payment and later you will have to pay the same amount to the bank. Through this facility, you will not have to check whether you have balance in the bank before making payment. This facility will work exactly like a credit card. Let us tell you that under this facility, credit line offer is being given by the Reserve Bank of India. With its help, you can make large payments when your bank account is empty.
In this way you can avail the benefit of the facility
To avail this facility you will have to contact your bank. You will have to get the credit line offer started from the bank. After this a limit will be fixed. After this, even if there is no money in the account, you will be able to make the payment tension free. After this this service can be activated from the UPI app. You will get time to repay this payment back to the bank, if you make the payment to the bank in that time then you will not have to pay any extra charge. However, for this you will have to pay processing fees later. Let us tell you that at present only HDFC Bank and ICICI Bank are providing the benefit of this facility. Both these banks have fixed a maximum limit of Rs 50 thousand for their account holders.
Subscribe to our YouTube Channel ‘DNP INDIA’ now for all the news of the country and the world. You can also follow us on FACEBOOK, INSTAGRAM and TWITTER.
Source: www.dnpindiahindi.in
: Language Inputs
This post is sourced from newspapers, magazines and third-party websites. For more information please check NewsDay Express Disclaimer.
