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
Many people who got the opportunity to taste the same have reported seeing Rs. 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 Rs 100 for outstanding up to Rs 2,000, Rs 200 for outstanding between Rs 2,001-4,001 and Rs 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.
Flipkart and its dedicated team are keeping a check on each and every customer in order to facilitate this feature to only those who use the service with no intention of not paying back. Global roll out is being planned but might have to undergo some more precious research keeping the history in mind where Flipkart had been reportedly duped and cheated for lakhs and lakhs of Rupees.
We wish Flipkart all the best and we hope this really could bring out the best out of the E-commerce giant in India.