Hello,

Many of you have heard the term pay me later however they do not understand how it works for local and global payments.

Local payments working without contract of work or salary or with contract of salary:

This could still have an accord of loan by calculating the average of your deposits previous 12 months. If the average deposit is 1000 TND then you are allowed pay me later of a maximum debit 300 TND per month. That is the rule 30 % of the deposit. You must have a history of transactions of 1 year with the bank to start using the service.

How it works?

Like for example you go to a retailer working with the pay me application and you scan the QR code.

The merchant gets credited the money and then the bank will divide this money by 10 and you will pay for the next 12 months.

The bank could expand the duration to 24 months or reduce it to 6 months if you have a history of transactions of 3 years minimum. All Pay Me Later purchases don't surpass the average of 30 % of deposits previous 12 months.

Like for example you want to purchase a bedroom for 6000 TND and then you scan the QR code with the bank and then by default it is divided by 10 and need to pay back 600 TND each month to the month.

Be sure that any attempt to cash out more than 70 % of your deposit is rejected by the bank agency.

Means if you have 1500 TND then you need to keep 1500 * 0,3 = 450 TND in the bank account.

Pay Me Later Globally:

This works with another perspective is that crypto payments and international bank payments but it has the same concept of the payment.