Ordering food online? Here’s how you can pay for it later!

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Are you using online food delivery apps almost every day? Do you wish that you can pay for it later? Now you can! There are several customers who live alone. For them, it is easier to order food online than to cook a meal for themselves. After working all day at the office, it is not a feasible option to come back and cook. But at the end of the month, it is difficult to have a lot of cash in hand. Hence, food delivery apps such as Zomato have come up with a solution where you can order food but pay for it later. 

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Get food on credit!

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According to several studies, 76% of consumers use third-party online food delivery apps to order food. Keeping this trend in mind, there are several companies such as PayU which offer credit to the customers who prefer to order food online. In case you are hungry but you do not have enough money with you, these companies can help you out. The aim of these companies is to provide you with credit when you need to order food online. 

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How does it work?

After you have downloaded the Fintech app, you have to provide the app with your proof of identity. This is to be done in order to register yourself. After the registration process is done, you can use the credit option. The process of using credit is similar to any other payment option. All the food delivery apps such as Zomato have tie-ups with such Fintech companies. Whenever you use a food delivery app that supports these Fintech startups, you will get to see the ‘pay later’ option after you have chosen what you want to eat. This option will appear amongst all the other payment options such as Cash, credit card, Debit Card and Paytm. When you click on the ‘pay later’ option, you will get the credit that you need to place your order. You have to repay the amount within 15 days. If you are unable to pay within the stipulated amount of time, you will have to pay a fine. You might also be asked to pay a penalty which amounts to 3%  of the total amount that is to be repaid. 

Is it a good decision to use this option?

All financial institutions want their customers to be happy. Paying later or ordering food on credit is a boon for customers who do not have a debit or credit card. However, you need to keep three things in mind before you decide to use this option. The first thing that you need to keep a check on is the charge that you need to pay. Make sure you use the right Payment company to get your food on credit. Read all the rules and regulations carefully. Some companies may try to cheat you by placing hidden charges. There are some companies that might ask you to pay interest on the penalty and amount. The second thing that you need to keep in mind is the impact it will have on your credit score. Using credit on Zomato can have a serious impact on your credit score if you are unable to repay the amount within the given amount of time. Any kind of default can decrease your credit score. A bad credit score will curb you from getting a loan in the future during a crisis. The last point that you need to check on is the privacy policy of the credit company. There is always a possibility that these companies might use the data to know more about your spending habits and use it to manipulate you in the future. You need to read the privacy policy carefully before choosing your options. 

Once you are completely satisfied, all you need to do is to use these Fintech apps and order whatever you want on Zomato

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