Frequently Asked Questions

1. What is MobiKwik ZIP PayLater?

   ZIP PayLater is an exciting product by MobiKwik through which you can spend money up to Rs. 60000 without adding to your wallet. You can make a transaction using your ZIP balance and settle the bill later.

2. How does MobiKwik ZIP PayLater work?

   ZIP Pay Later is very easy to use. You get a credit of up to Rs 60,000. You can use that money to pay bills, order groceries, food, medicines, or shop for anything online and simply pay the bill via ZIP. Your ZIP bill will be generated based on your billing cycle of 15 days or 30 days. So this means you can shop all you want and simply pay it back later. The credit disbursed to a user via MobiKwik is at 0% interest if the bill is paid on time.

3. Where can we use MobiKwik ZIP PayLater?

   ZIP Pay Later can be used at 1 Lakh+ brands to order groceries, medicines, food, clothes, and electronics; pay bills like electricity, gas, water, DTH Recharge, and mobile; or shop for anything online as per your necessity or wish.

4. What will be the billing cycle?

   Your billing cycle can be either 15 days or 30 days, subject to usage and performance. You can continue using ZIP to upgrade your billing cycle to 30 days.

5. How can I use MobiKwik ZIP PayLater?

   Your Zip balance will be available to merchants to use. So, while making payment on any online brand, you just have to choose MobiKwik as your preferred payment mode and your transaction will immediately get through! Yes, it’s that quick and instant.

6. How can I get the MobiKwik ZIP PayLater facility?

   You can avail ZIP Pay Later facility by MobiKwik. It is very easy to activate. You just need to sign up on the MobiKwik app, click on ‘See All Services’, then click on ‘ZIP/ Pay Later’. Now you just have to click on ‘Activate ZIP’ and voila! It’s done.

7. How do I increase my credit limit on MobiKwik ZIP Pay Later?

   You can increase your ZIP Credit limit- By using your existing limit to the maximum in every cycle
   By paying your bills on time
   By using ZIP PayLater on maximum brands for shopping, travel, food, and bill payments

8. Who can apply for Mobikwik ZIP PayLater?

   Mobikwik Zip Payter has no eligibility criteria for activation, making it accessible to anyone, including both employed and self-employed individuals. The activation process is based solely on a credit score, allowing a wide range of people to benefit from this convenient payment option.

9. What is the repayment process on MobiKwik ZIP Pay later?

   Mobikwik calculates your bill based on your usage and transactions during the billing period. Bill cycle can be either 15 days or 30 days based on performance on Mobikwik.
   15 Days Bill Cycle: For transactions made between 1st to 15th, the bill date will be the 16th and the due date will be the 20th of every month. If the transactions are made between the 16th to 30th/31st, the bill date will be the 1st and the due date will be the 5th of every month.
   30 Days bill cycle: For transactions made between 1st to 30th/31st, the bill date will be the 1st and the due date will be the 5th of the next month.

10. What happens if I miss the due date on Mobikwik ZIP Pater?

    On missing due date-
    Penalty charges and overdue @ 0.1% per day delayed repayment will be applied
    On delaying by a month-
    Delays in repayment of credit will be reported to credit bureaus including CIBIL. This will reduce your credit score, and chances of getting loans & credit cards in future.

11. Does MobiKwik ZIP affect the Credit score?

    Yes, If a user delays the repayment by a month, it can be reported to credit bureaus including CIBIL leading to an impact on your credit score. Furthermore, it's worth noting that complete repayments of your Pay Later bill can also contribute to increasing your credit score.

12. Can I Transfer my ZIP PayLater to my bank account?

    Mobikwik ZIP PayLater balance cannot be transferred to the bank account. You can use your ZIP balance for recharges, bill payments, and merchant transactions.

13. What are the Grievance Redressal Officer details?

    Lending Partner	Name	Designation	Contacts
    IDFC	Ms. T Arora	PNO	Address: IDFC FIRST Bank Ltd. Building No.2, Raheja Mindspace, MIDC Industrial Area, Shiravane, Juinagar, Nerul, Navi Mumbai 400706, Maharashtra, India Customer Care Number: 1860 500 9900 / 1800 209 9971 Email Id: Banker@idfcfirstbank.com / head.customerservice@idfcfirstbank.com
    Fullerton	Ms, Maithreyi Srikanth	Nodal Grievance Redressal Officer	Email id: GRO.Digital@fullertonindia.com
    Lendbox	Ms. Tamanna Mehta		Email Address: grievances@lendbox.in Phone Number: 9311393600