What is FavePay Later and how does it benefit me? FavePay Later allows you to split your purchase into 3 payments on a monthly basis.
What payment method can I use to perform FavePay Later? The payment methods accepted for FavePay Later are debit and credit cards only.
When will the next installment be charged to my payment card? Installments will be charged to your card at one-month intervals on the same date your first payment was initiated. For instance, if your first FavePay Later payment was made on the 10th of April, your subsequent payments will be automatically charged to your card on the 10th of May and 10th of June. If the subsequent month does not have the same date as the first payment, that particular month's installment will be due on the date prior. (e.g., if the first payment was made on 31st August 2021, the second installment will be due on 30th September 2021).
Can I change my payment method or card details for the subsequent payments due? The payments/installments will be charged on the payment card that you set as primary for FavePay Later. To use a different card, add/change the primary card by going to your Me tab > FavePay Later page > Card icon on top right > Change card.
Is there any penalty for late installment payments? There is a 1.5% penalty fee incurred (calculated based on the total late payable amount) for instalment payments that are more than 7 days late. Hence, to avoid any penalty, do ensure that your FavePay Later payment card is correctly updated and that it has sufficient funds for any upcoming installments!
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