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OnlineTyari Partners With ePayLater to Provide Credit Services to Students

By SiliconIndia   |   Tuesday, July 17, 2018
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tyariMumbai based fintech company ePayLater, a leading innovator in the credit market, has partnered with OnlineTyari, India's largest test preparation platform, to provide its customers a convenient option of making payment for online job-oriented tests courses, and paying for them later.

OnlineTyari through its multilingual app and website provides individuals with relevant material to prepare for various entrance tests for government jobs and higher educational institutes including the civil services, banking services, UPSC, GATE, and other government jobs. With8.5+ mn registered users, OnlineTyari is a leading test preparation player in its space. Recently, it has launched, TyariPlus, an annual subscription plan to access unlimited preparation material at INR 1499/- Only.

ePaylater is a ‘Buy Now, Pay Later’ payment solution through which customers can get access to a credit limit to make faster online purchases. A signed up customer can avail a credit limit of up to Rs. 20,000. A 14-day interest-free period is provided from the date of purchase to settle the payment.

To use this new feature, users will be required to sign up on ePayLater. Once signed up customers can pay for online courses and tests onOnlineTyari with their credit limit. Without the hassle of punching in lengthy bank/card details every time, ePayLater offers the smoothest payment experience and increased transactional security for the customer.

Talking about this development, Uday Somayajula, co-founder, ePayLater said, “We have observed exceptional adoption in the online education segment and we believe that ePayLater is going to be a payment option of choice especially for the time and money conscious students and young professionals. Digital education is helping students participate and excel in the knowledge-driven economy. Put together, we believe this is a real-life example of how digital-credit and digital-education are re-shaping modern India for the better and how startups like ours are leading the way there”

Rajveer, Co-founder, OnlineTyari resonated,” We aim to bring convenience for our users at every touch point on OnlineTyari platform, including Payment Options. Partnership with ePayLater will certainly eliminate frictions involved in the payment process and offer greater value to our users.”.

Students and young professionals form a large but often ignored market segment. Currently, the availability of credit to students at the point of checkout is almost negligible. This customer segment varies from biggest metros to the smallest hamlets and of different age groups that often lack credit histories. This lack of a viable credit history coupled with the absence of an income structure makes them ineligible for traditional credit cards. In spite of these challenges, ePayLater’s algorithms and advanced machine learning techniques have been able to do a real-time credit assessment, making it possible for students to get access to credit at the point of checkout.

Read more news:

Airtel Payments Bank gets RBI nod to start enrolling new customers

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