Axiata’s fintech arm Boost has been making a lot of announcements within this month alone, with the company announcing the alpha stage of its digital bank to the upcoming debit card. More recently, the company announced an expansion to its PayLater solution, called PayFlex.
The key feature of this PayFlex service is the ability to stretch out installment payments by up to three months. Boost notes that the feature is usable at over 1.8 million DuitNow QR merchants nationwide, as well as to top-up the wallet balance, which enables PayLater options for all in-app transactions, including bill management, online shopping, food delivery, and more.
Maybe not surprisingly, Boost is not allowing access to this feature to just any unidentified user. To get access to the feature, you’ll first have to upgrade to the Boost Premium Wallet, which is free. You will then have to go through the activation process for PayFlex, which involves “a detailed contract agreement and payment method, pre-authorisation”. From then on, pending expenses and repayment schedules are tracked in real time.
According to the FAQ section of the page, there are other factors that may determine a user’s eligibility for the PayFlex feature. In the same vein, there is also a limit to the number of installments that you can stretch to the full three months, which is determined by “your spending trends on Boost App”. You can find out more about that, as well as take a look at the pretty extensive FAQ section, by hitting the link below.
(Source: Boost)
