Is Simpl RBI Approved?
Simpl, a lending service provided by the Reserve Bank of India, is exclusively authorized to offer loans to Non-Banking Financial Companies (NBFCs), which are the only organizations eligible for lending apart from banks. Currently, Simpl is accessible only to customers who have been approved by retailers.
Can we Transfer Simpl Pay to Bank Account or Paytm Wallet?
Simpl works based on a 'buy now, pay later' system and does not allow transferring any financial balance to a bank account.
Is Simpl Pay Safe?
Yes, Simpl prioritizes the security of user data and employs robust encryption, secure payment gateways, and tokenization to ensure the safety of transactions.
How to Pay Simpl Pay Bill?
You can pay Bill using a payment method (credit/debit card, UPI, net banking, etc.
What happens if I don't pay my Simpl bill?
If the User fails to pay their outstanding balance within 30 days of the due date, Simpl has the right to revoke access to the User's account and notify the Merchants of this decision.
Is it possible to pay our electricity bill using Simpl?
Yes, you can use Billbox to pay various utility bills, including prepaid recharges, postpaid bills, cylinder gas, DTH, electricity, broadband, water, piped gas, landlines, and data cards, and receive a 10% cashback from Simpl.
How can I increase my Simpl credit limit?
Simpl will raise the credit limit based on your usage patterns. If you spend more and make on-time payments, Simpl will automatically review and increase your credit limit.
How do I receive my Simpl cashback?
Once you make your payment, the applicable cashback amount will be credited to your Simpl account. You can view this credit on the transactions page of the Simpl app.
