Hot Deal

Red Flags in Postpe and Slice usage as per T&C

360°
Deal Newbie
Eren_yeager

I was going to join the Postpe for availing discount that are currently going on at multiple merchant but on going through their T&C. It seems like they are not going to raise a dispute and even in the case of fraud customer needs to pay entire outstanding balance which is not the case with normal credit cards.

Have you also seen noticed such things with these so called Credit cards. What is your opinion about it.

https://cdn0.desidime.com/attachments/photos/782100/medium/Screenshot_20220626-193032__01.jpg?1656253897

Expired
29 Comments  |  
14 Dimers
  • Sort By
Deal Subedar Deal Subedar
Link Copied

That’s why it’s best to stay away from fintechs. This is unregulated business. 

Deal Lieutenant Deal Lieutenant
Link Copied

Well dont enable international transactions and set per transaction limit point_down low

Deal Newbie Deal Newbie
Link Copied

But, What if there is a dispute with the merchant because of service not provided or low quality product delivered. I am worried for these scenarios because these kind of frauds are increasing every day.


Deal Subedar Deal Subedar
Link Copied

It is not CC. It is BNPL (Buy Now Pay Later) . They open Consumer Durable Loan with tied up NBFC and allow us to use that loan amount using Prepaid Card. So nothing like buyer protection is applied here.

Deal Newbie Deal Newbie
Link Copied

I understand that these are not Credit cards but they market them as Credit cards so I (and people like me) will assume that it provides protection also similar to Credit cards.



View 3 more replies
Deal Lieutenant Deal Lieutenant
Link Copied

Agree about these things.. but not much on privacy violation

View 2 more replies
Community Angel Community Angel
Link Copied

Got similar message from lazypay regarding updated t&c and deadline to accept t&c is 30 June. Similar clause in their policy also that if there is any dispute, they are not responsible. Closed their service by contacting CC. Although they just deactivate and don’t close permanently. So better stay away

Deal Legend Deal Legend
Link Copied

what if I dont accept tnc? will it automatically close my account?

View 9 more replies
Finance Mentor Finance Mentor
Link Copied

Ha ha, mazaa aane laga na…!

Mobile Guru Mobile Guru
Link Copied

As far as i can remember, only Slice promoted their BNPL cards as “Credit Cards” (and they only did this when they were new), no one else did & by no means i can refer these to as “Red Flags”. If someone thinks these are credit cards, then it is their mistake (Credit card approvals require Physical KYC or at least Video KYC, OneCard is the only fintech company that offered CCs with just a CIBIL check but that’s past ..now they too need Video-KYC, followed by Aadhaar E-KYC)

+ Disputes have always been exclusive to CCs (Even though you can dispute debit card transactions [Certain banks*] via local branches, i bet no one else tried it or even aware of it)

Deal Newbie Deal Newbie
Link Copied

I understand that these might not be counted in red flags but these apps are also collecting personal information related to phone contacts and other personal items that for me is also not acceptable as this is a clear case of privacy violation. 

I think all these companies are able to do it because we are more inclined on getting short term discount or cashback instead of reading the T&C to understand what we are loosing.

https://cdn0.desidime.com/attachments/photos/782165/original/Screenshot_20220627-112557__01.jpg?1656309798

https://cdn0.desidime.com/attachments/photos/782166/original/Screenshot_20220627-112746__01.jpg?1656309820

View 2 more replies
Benevolent Benevolent
Link Copied

These apps provide credit line and not are credit cards to be precise But such bull*** terms are pretty strange o.O
What is RBI doing in this case? Promoting them as is? Or aren’t they even aware of this?

replyuser
Click here to reply
Reply