Vivifi India Finance launches UPI-based credit option FlexPay


Vivifi India Finance, a Hyderabad-based non-bank lender, has launched FlexPay, a payment option that offers credit using the Unified Payments Interface (UPI). FlexPay will enable customers to use a line of credit when they do not have funds available in their bank accounts or virtual wallets.

The product facilitates offline purchases by scanning any UPI QR code or a UPI ID to salaried and self-employed individuals.

“FlexPay is a shot in the arm for our vision of expanding credit access to non-prime and low-income borrowers who currently rely on friends and family or unlicensed money lenders when faced with a cash crunch. We firmly believe that our UPI infrastructure which enables ‘scan now, pay later’, will become the future for all types of credit,” said Anil Pinapala, CEO of Vivifi.

The company said its product has been live for almost two months and has enabled 30,000 existing customers to pay for transactions worth nearly Rs 3 crore.

“Over 12 million kirana stores do not process credit card payments but offer credit by themselves to retain customers. With this launch, these micro-entrepreneurs do not have to manage credit risk for themselves but focus on their core business, as their customers now have access to a meaningful credit option,” Pinapala said.

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