What is the minimum eligibility to qualify for the Prefr Pay Later Program?

What is the minimum eligibility to qualify for the Prefr Pay Later Program?

Eligibility is calculated based on the average monthly business with the Anchor. Further, all the eligible merchants should meet the below minimum criteria to be considered for PayLater.

  • Age in case of individuals

    • Minimum 22 years at the time of onboarding

    • Maximum 58 years at loan maturity

  • Income

    • Minimum turnover of Rs.1,00,000/-p.m. (validated imputed logics from partner/alternate data)

  • Years in Business

    • Min 2 years or subjective call to be taken based on transaction data shared with a partner.

  • Vintage with Anchor

    • At least 3 months to start the program. We will look into onboarding new customers as we get confidence with the partner program

  • Average business volume with the partner in the last 3 months:

    • 10000 (covered as part of PQ list)

  • Bureau Criteria

    • NTC Allowed

  • Bureau Reject List 

    • Suit-Filed/Wilful Default/Written-Off across any tradeline.

    • NPA or Max DPD >= 90 in last 24 months

    • Current Overdue > 5000 across any tradelines

  • Locations

    • All Prefr operated locations (Business premises are validated based on either GPS (location data) or the delivery address from the partner)

  • KYC Documents

    • KYC is as per regulator’s policy

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