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

Yeah me too.
They are the best of BNPL:
mode of payment: card as well as Scan and Pay unlike card only from other BNPLs
Billing Cycle: 1 month instead of 15 days
Rewards: 1-5% cashback
Not restricting users from adding money in Paytm wallet or anything of the sort unlike Slice.
Once I tried to pay for my Brother’s PAN card fee using Slice and it failed citing merchant category not allowed and I used Lazypay card and it swiftly passed through.
So Lazypay is the king ,the best of the BNPL , so I too would certainly miss it if it has to go.

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I just got my Edge approved last week. Tried using it today declined and showed RBI notification.

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Ikr. Feels like Kattapa stabbing Bahubali in the back.

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First they came for BNPL…Next they will come for the Neobanks :pleading_face: :pleading_face:

I hope Jupiter Edge will be back functioning soon… :space_thumb:

RBI:

Currently this guidelines are uncler even this fintech company’s are quiet confused…but as we Currently understand the regulator said that PPI could not load via creditline exception for those who has Regulated with direct with RBI in that case a ppi and lender both regulate with rbi. And non bank lender not perform i that actinon (non bank menas NBFC)
LAZYPAY HAS CURRENTLY WORKING FINE AFTER some terms chages…but the works not completed yet they required some more changes…
Open for any correction or upgarde my knowledge…
Welcome

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Before their partner was Yes bank which was good they should not change the partner.

Whose? Jupiter Edge??

I never used bullet (old app)

Bullett money

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