UPI Now Pay Later: If you do not have money in your bank account, you can still send money online through UPI. A new service has been started for this.
UPI Now Pay Later: Nowadays most of the people are adopting online facility. In such a situation, somewhere we all are becoming cashless. The habit of doing direct transactions from the bank is convenient but due to this many times we are not aware of how much we are spending.
The habit of continuously making online payments sometimes becomes the reason for emptying the bank account. Whereas, sometimes the payment has to come a little late from somewhere and if any payment has to be made before that, then we either want to use a credit card or look for some such facility which will allow us to pay the money later. .
UPI started new service
A new service has been added to UPI i.e. Unified Interface Payment System. In such a situation, even if you have zero account balance in the bank, you can still make payment. Now the facility of ‘UPI Now Pay Later’ has arrived. Under this service you will get the facility to make payment later.
How will it work
If you do not have money in your bank account but you need to make online payment somewhere, then you can avail the service of ‘UPI Now Pay Later’. Actually, Credit Line Service (UPI Credit Line Service) is being provided by RBI. In such a situation, you can make UPI payment immediately when the bank account is empty.
Payment will have to be made later
UPI’s Pay Later service has been started through credit line. After availing this facility, you will have to make the same payment as you had made earlier. For your information, let us tell you that till now UPI users could link only savings account, prepaid wallet, credit card and overdraft account to UPI, but now credit line limit service has also been added to it. By using this, users will be able to avail the benefits of pay letter service.
