Postpe – Shop Now Pay Later App Downlaod
postpe is the only shopping and payment platform you need that lets you shop now and pay next month, for anything and everywhere from golgappas to mobile phones. It enables financial freedom and better tracking of monthly spending. It provides you with an interest-free credit for up to 30 days and an option to convert your bill into low-interest EMIs.
Scan and Pay – Scan QR codes to pay using postpe at shops anywhere. This is done via the limit that’s assigned to you. While paying on month-end, you can settle in full or convert your bill into easy EMIs
* Cashbacks and Rewards – Unlock cashback and rewards at multiple places
* Refer and Earn – Invite your friends and earn up to 5% cashback
* Easy EMI – Pay in full or convert to low-interest EMIs
* One Bill, Multiple Transactions – postpe aggregates all your transactions and generates one bill for repayment next month
* No charge – No annual fee, absolutely no hidden charges
How to use postpe?
* Download the postpe app
* Sign up using the phone number or WhatsApp
* Complete your KYC
* Start transacting with postpe
* Refer to your friends. Earn up to 5% cashback
When do I have to repay?
* Bill is generated on the 1st of every month. You can repay within five (5) days of bill generation or convert to EMIs.
* You can pay your bill using any UPI app, debit card, and net banking.
EMI calculation:
postpe extends a credit line between Rs. 1,000 to Rs. 10,00,000 with instant approval and no collateral. The interest rates range from 15% to 20% per annum with a loan tenure of 3 to 6 months.
An example:
* Amount converted into EMI: Rs. 1,00,000
* Tenure: 6 months
* Interest Rate (APR): 18% per year
* Repayment Amount: Rs. 1,09,000
* Total Interest Payable: Rs. 100,000 x (18%/12)*6 (6 months) = Rs. 9,000
* Processing Fees (incl. GST): Rs. 0
* Monthly installment (EMI): Rs. 18,166.67
* Total Cost of the Loan: Interest Amount + Processing Fees = Rs. 9,000 + Rs. 0= Rs. 9,000
Permissions:
As per the National Payments Corporation of India (NPCI) regulations, it is mandatory to enable SIM binding (Send and Receive SMS) from the user’s device to authenticate and authorize payments. We will also need to take permissions like Location and Contacts to provide us with additional data points that enable our partners to underwrite you better.