Non-banks can't load credit lines on prepaid payment instruments, says RBI

That doesn’t make him an expert on Finance.
Many Bussiness man would have these cards but can’t say they are expert in these domains.

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Ahh, maybe but lets see what is going to happen

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Just by holding an Amex card, he’s suddenly in the loop about RBI’ new regulations?
Not stepping on toes, but that doesn’t make any sense.

And if you re technoguy, I apologise about exercising my opinion, fren. :smile:

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Good bye my friend jupiter edge see you after 1-2 years

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If you are telling about unsecured one, sure it is.
However you can open the FD backed card with min 2000 and max 1L with limit 110% of FD.
You will like the experience for sure .

First it was bullet then Jupiter Edge but after 1-2 years🤔?
What name would be more suitable incase Jupiter wants to change the name.

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Jupiter Dash?

Or we could the apple route and just give up with Jupiter Edge Pro Max. And no, Marketing…. That’s not an idea!

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Definitely not another “Pe/Pay” app. Too mainstream :typing_bot:
Oh and we saw that @nateavi :stuck_out_tongue:

Pro Max is a no-no! It’s like one of those Oppo/Xiaomi phones. They name their devices like race cars.

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Jupiter edge parmanent close or coming back with rbi guidelines
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Previous Year went with Same Text .

If Jupiter Edge want to adapt/learn something, Kindly check LazyPay (PayLater) .

  • They’ve pushed and update to accept new T&C.

  • They have changed (for Full KYC) billing Cycle to Monthly from twice in a month.

  • You can also introduce Virtual Card atleast.

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Guys,
This is in response to a new RBI guideline issued 2 days ago which affect not just Jupiter but BNPL as whole.
Let’s give them some time to resolve it.

@Shawnpinto
Please merge this thread.

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Merged! :space_thumb:
There’s no need to create another thread for this one. Let’s keep it here.

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this clamp down from RBI was expected for sometime because BNPL space is currently a mess, a lot of customers have faced with multiple pending partner changes , issues with closure and incorrect inconsistent CIBIL reporting. there’d been many complaints regarding this.
also don’t be too hopeful of BNPLs, look at what happened in Australia - the pioneer market of BNPL.

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What happened in Australia? :thinking: @Krishnendu_Chowdhury

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Yeah… Lazypay is cool… they swiftly crafted new tnc and continued their app.

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Happy to report I was finally able to jump from 15 to 30 days billing in Lazy pay. :smile:

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the bubble burst, the market valuation of BNPL went crashing and became less than one-fifth or thereabouts
most of them shut down taking down with them a lot of retail investors money as these were listed as well
others got taken over by the bigger players
now there’s about 3 bigger fish only surviving and barely making profit, Zip is one of them

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Are you talking about this?

There’s nothing that will help.
This t&c I signed on 20th June while the RBI regulations came in effect the same day but in evening.
These t& c are regarding lazyplus (Scan and Pay ) in Lazypay and since the lending partner still remains PayUmoney which is a nonbanking entity the regulations is binding in this case and in my opinion,Lazypay would exit from BNPL market or make it solely based on FD but again who would do FD for a BNPL Product which can be well utilised for Secured Credit Card with much more features and cashback.
It would even be better for credit report too so anyway Lazypay is gonna die unless something relieving is done by RBI

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Man I really liked those guys. It’d be a shame if Lazypay collapses. Simpl won’t be far behind.

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