Finbud Pay – Complete User Guide
What is finbud pay?
Finbud Pay is a credit-based purchase and bill payment facility available to eligible users. It allows you to use a pre-approved credit line for shopping and paying bills, both online and offline.
How to use and where to use finbud pay?
1. Online Shopping
With Finbud Pay, you can shop on credit from top e-commerce platforms such as Amazon, Flipkart, and other supported websites.
Here’s how to shop online using your Finbud Pay credit line:
Open your preferred shopping app (e.g., Amazon or Flipkart).
Find the product you wish to purchase and copy its product link.
Open the Finbud Pay app.
Tap on “Pay Bill” > “Shopping”.
Select the e-commerce website.
Paste the product link and proceed with the payment using your credit limit.
2. Offline Shopping (In-Store)
Finbud Pay is accepted at over 10,000+ retail outlets across India.
To shop offline:
Visit any Finbud Pay partner store.
Choose your products.
Make the payment using Finbud Pay through QR code scanning or POS (Point of Sale) terminals available at the store.
You can enjoy instant credit without needing a credit card.
3. Bill Payments
You can use your Finbud Pay credit line to pay a wide range of utility and financial bills directly through the app.
How to make a bill payment:
Open the Finbud Pay app.
Tap on “Pay Bill”.
Choose the bill category (e.g., electricity, gas, DTH).
Select your service provider and enter the required details.
Confirm and pay using your available credit limit.
Supported Bill Types:
Electricity, Water, and Gas bills
DTH and FASTag recharges
Credit card bill payments
EMI payments to other lenders or NBFCs
Other regular monthly utility bills
Note: Bill payments made using Finbud Pay cannot be converted into EMIs. These payments follow a fixed 30-day repayment cycle, similar to a traditional credit card.
What is the Finbud Pay ‘Pay QR’ Option?
The ‘Pay QR’ feature in the Finbud Pay app allows you to scan QR codes at physical stores and make payments using your Finbud Pay credit line. It works just like UPI or wallet-based QR payments — but instead of deducting money from your bank account, it uses your approved credit limit.
Where Can You Use It?
At any Finbud Pay partner retail outlet (over 10,000+ stores across India)
Stores that accept Finbud Pay QR codes or compatible payment partners
Merchants with QR-enabled POS (Point of Sale) devices
How It Works:
Open the Finbud Pay app.
Tap on the ‘Pay QR’ option on the home screen.
Scan the merchant’s QR code using your phone camera.
Enter the amount to be paid.
Confirm and pay using your Finbud Pay credit line.
Benefits:
Use your credit limit for instant in-store purchases.
No need to carry cash or debit cards.
Quick and secure transactions with instant confirmation.
Ideal for everyday shopping at groceries, electronics, fashion, pharmacies, etc.
⚠️ Things to Keep in Mind When Using ‘Pay QR’:
EMI Conversion Eligibility:
QR payments are generally not eligible for EMI conversion. In rare cases, EMI may be offered based on the transaction type and merchant category.
Partner Merchant Requirement:
Ensure that the merchant is a Finbud Pay partner. Payments may fail or be declined if the QR code belongs to a non-partner store.
Repayment Timeline:
All QR transactions are subject to a 30-day fixed repayment cycle—similar to a credit card. This means the full amount must be repaid within 30 days of the transaction date.
What is the Finbud Pay 'Transfer' Option and How Can You Use It?
The ‘Transfer’ feature in the Finbud Pay app allows you to send money directly from your approved credit limit to your bank account. This is especially useful for covering urgent expenses or personal transactions.
⚠️ Eligibility Requirement for Using the ‘Transfer’ Feature
To access the ‘Transfer’ feature in Finbud Pay, your account must have a minimum credit limit of ₹25,000.
This eligibility is determined based on your current credit profile, which includes:
Your CIBIL, Experian, CRIF, or Equifax credit report
Your repayment history with existing or past loans and credit accounts
Your overall creditworthiness and financial discipline
Finbud Pay evaluates these factors to ensure responsible usage of credit-based fund transfers.
How to Use the 'Transfer' Feature:
Open the Finbud Pay app and log in using your secure PIN.
Tap on the ‘Transfer’ option from the home screen.
Enter the recipient’s bank account details, including:
Account holder’s name
Account number
IFSC code
Enter the amount you wish to transfer (within your available credit limit).
Review the details and confirm the transaction.
Funds are typically credited to the recipient’s account instantly or within a few minutes.
Repayment Terms: Amounts transferred via the 'Transfer' option are eligible for EMI conversion upto 9 Months at 3.5% charges per month.
⚠️ Important to Note:
The transfer feature is intended for personal use only.
Using this feature responsibly helps maintain your credit health and eligibility for future credit increases.
What is the Processing Timeframe for a Bill Payment or Shopping Order?
Bill Payment Processing Time
Bill payments made through Finbud Pay can take 5 to 8 working days to reflect with your service provider. This timeline depends on the biller’s internal processing and reconciliation cycle.
🔔 To avoid late payment charges or service interruptions, we recommend making your payments well in advance of the due date.
Online Shopping Delivery Timeline
When you place an order using Finbud Pay, the order is placed on your behalf by Finbud Pay. Delivery can take up to 5 to 8 working days, depending on the merchant and logistics provider.
A tracking URL will be shared with you once the order is confirmed.
Your product will be delivered to your Aadhaar-registered address linked to your Finbud Pay account.
📌 Ensure your Aadhaar address is up-to-date to avoid delivery issues.
⚠️ What If There’s a Delay Beyond the Standard Timeframe?
If your bill payment or shopping order takes longer than the standard 5 to 8 working days, it likely means the transaction has failed due to one of the following reasons:
Mismatch in bill amount
Incorrect or mismatched customer name
Mismatch in delivery address
No active bill available with the biller at the time of processing
Incorrect or incomplete product link/order details
In such cases, the transaction fails at the biller or merchant’s end and the amount is refunded to Finbud Pay.
Refund & Status Update:
Once the failure is confirmed, the transaction status will change from “Pending” to “Failed.”
Any down payment made (in case of shopping orders) will be automatically refunded to your original payment source.
You will receive a notification or email update once the refund is processed.
Know about down payment policy
Every transaction made using Finbud Pay follows a split payment model, combining a small upfront payment with a credit-based EMI repayment.
Payment Breakdown:
You are required to pay a down payment of 33.33% of the total order value at the time of placing the order.
The remaining 66.67% is paying through your Finbud Pay credit line and is repaid in your scheduled repayment timeframe.
A monthly charge of 3.5% is applied to the credit amount until fully repaid.
How It Works:
After you place an order, Finbud Pay sends you a demand notice (payment link or alert) to complete the 33.33% down payment.
If the down payment fails or the demand notice expires, your transaction will be automatically cancelled or marked as failed.
⚠️ Important to Note:
Ensure timely payment of the down amount to avoid order failure.
Always check your email or whatsapp for the payment link.