True Balance introduces 'Pay Later' options for electricity, mobile bills

True Balance, a one-stop payment solution app, has announced the launch of 'True Pay Later' which will allow users to pay their electricity bills, mobile and DTH recharges in two payments.

To avail the 'True Pay Later' service, users will have to pay a nominal service fee upfront and the balance principal amount within a period of 14 days interest-free credit. This paperless, digital service is aimed at helping tier II/III users to buy services/products in parts if they are unable to pay the whole amount at once.

"We recently launched the UPI service for our 70 million users, and now we are delighted to introduce this new fin-tech service 'True Pay Later'. This will hugely benefit those users who cannot afford to pay the complete amount in one go. We are currently having 8000 - 10000 transactions daily and we are sure these numbers will increase rapidly," Charlie Lee, CEO, True Balance, at the launch of 'True Pay Later' said.

"Freshly infused Indian capital from India's leading Private bank has also strengthened our new fintech services in India in 2019 and will reinforce our mobile payment services to provide a complete fintech platform for the Next Billion Indian users," Lee added.

As part of the future strategy, True Balance is focused to provide financial products and services suiting their needs like- Recharge pack, Insurance, Small loans etc. 'True Pay Later' is also a new service from the brand to continue its effort to enable users to fulfill their daily requirements without the pressure of paying the amount in one go.

True Balance is focusing on providing innovative financial services to people with little or no credit history, who may not be served by traditional and formal banking routes. By availing such innovative financial services, True Balance users can build and strengthen their credit scores which enables them to have better access to financial products and services.