Startups may not offer online credit on midnight purchases 

  • Startups like ePayLater, Simpl, PayU allow online buyers to make purchases instantly and pay their bills later with zero or a minimal interest.
  • They are likely to reject credit request for purchases in midnight.
  • The move is aimed at keeping tabs on fraudsters who prefer odd hours to make purchases online.
  • These companies heavily rely on analytics and machine learning to understand a customer’s online behaviour and purchase patterns so as to avoid fraudsters. 
  • According to ePayLater, the limit of credit depends on a customer’s credit worthiness but mostly it is capped at Rs. 10,000. Based on factors like social media, transaction history, the company decides the credit score of a customer and a credit is given.
  • Both Simpl and ePaylater have partnered with NBFCs who manages the cost of capital or interest that accrues on the micro credit. 


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