Flipkart’s latest move to rule the e-commerce market has taken another step where they have started rolling out schemes to buy any prod...
Flipkart’s latest move to rule the e-commerce market has taken another step where they have started rolling out schemes to buy any product now and pay for it later. This buy now feature would be able to work only if you see that option under your my accounts section with a company decided credit limit.
A couple of months ago, Flipkart launched a feature called Flipkart Pay Later. With this, at checkout, you can choose to pay later and instantly complete the order. You don't pay on delivery either - instead, all your Flipkart bills get consolidated, and you can pay them online at a later date, after receiving your products. An additional benefit to this is that since you haven't actually made the payment before getting a product, refunds can be instant, as it just means adjusting your pay-later bills.
Many people who got the opportunity to taste the same have reported seeing ₹5000 to the max as of now to shop. The scheme lets you buy a product as per your credit limit within a given date in a month, that product will be delivered to you and the amount will be accumulated for a monthly bill sent to you on the 1st of every month with a due date on the 10th of every month. You will get proper notifications for the same and you have to be very serious about paying them back. By any chance, if you are not able to pay them back even after 2 warnings or reminders, Flipkart retains the right to file an FIR against you which apparently might drag you into more problems. Not only this proper penalty will be levied which accounts ₹100 for outstanding up to ₹2,000, ₹200 for outstanding between ₹2,001-₹4,001 and ₹400 for outstanding beyond ₹4,001. If still, you are not able to pay the default, this will lead to termination of account and further purchases would be barred completely.
Such scheme will only be available for select customers with no history of cheating or even duping Flipkart ever. If you get this scheme enabled on your Flipkart profile you will see a ‘Flipkart Pay Later’ option under the ‘My Account’ section. “Flipkart Assured” products of select sellers will only be able to use this scheme.
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