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News18
08-07-2025
- Business
- News18
Credit Score Secrets: How Small Things Like Paying Netflix Late Can Hurt You
Last Updated: And worst of all? You may never be told why you were rejected for that loan you badly needed. You just get a polite 'not eligible at the moment' message on your app. One missed payment. A few hundred rupees. No big deal, right? Except your bank just told you that you don't qualify for that ₹6 lakh personal loan. Not even a pre-approved credit card. Because somewhere in the shadowy backend of your financial life, your credit score took a quiet hit and nobody told you when it happened. And the reason? Not repaying your Buy Now Pay Later dues on time. Or leaving your Netflix UPI auto-debit hanging for two weeks. Or using up 90% of your credit card limit every month. In the age of UPI and instant credit, we are being silently judged not by friends or followers but by algorithms tracking every swipe, skip, and snooze on payment alerts. So what exactly is this credit score thing, why does it matter so much now, and how does a ₹499 Netflix bill even show up on it? What Is a Credit Score? Your credit score is like a report card for your financial habits. It's a three-digit number (typically between 300 and 900) that tells lenders how 'trustworthy" you are when it comes to repaying borrowed money. The higher the score, the more confident a bank feels in lending you money. In India, the most commonly used credit score comes from CIBIL (Credit Information Bureau of India Limited), but there are others too – Experian, Equifax, and CRIF High Mark. According to Sujata Ahlawat, Senior Vice President of TransUnion CIBIL, 'A score of 750 and above is considered good. But even small delays, especially consistent ones can start lowering it before you realise it." If you're using credit-based services like: then even one missed due date can get reported to a credit bureau. A 2023 RBI report flagged how unregulated credit services are now shaping borrower profiles. Apps often bundle up late fees and roll them into your next month's due, and that rolled-over amount, if not paid, gets tagged as a default. 'What used to be just a Netflix subscription is now essentially a microloan. And skipping it counts as a repayment failure," says Anand Kumar Bajaj, founder of PayNearby. Spending close to your credit card limit every month say, using ₹48,000 out of a ₹50,000 limit even if you pay in full can signal you're 'credit-hungry." That lowers your score subtly but steadily. Too Many Credit Enquiries Ever applied for 3–4 credit cards during a shopping season because of offers? Or tried for multiple loans on aggregator apps? Every time you apply, lenders do a 'hard check" and too many checks in a short span tell the system: 'This person might be desperate for money." Even if you didn't get any of those cards. What's New in 2025: The Algorithms Have Eyes Everywhere Until a few years ago, credit bureaus only tracked formal bank loans and credit cards. But now? BNPL services (Buy Now Pay Later) like Slice, Uni, ZestMoney feed your repayment history into bureaus. Subscription platforms that partner with NBFCs (non-banking financial companies) report defaults. Some fintech apps even create 'shadow scores" using your phone's metadata like how many times you check your account balance or how many financial apps you use. This means even UPI-based 'Pay Later" features could affect your formal credit profile. In fact, a 2024 study by Razorpay showed that over 28% of young salaried users in metros were unaware that their BNPL activity was affecting their credit score. Why Should You Care? Because in India today, your credit score affects far more than just loans. Here's what it influences: Your credit card limits and interest rates Loan approvals – even for something as small as a phone EMI Rent agreements – some landlords now ask for credit history Buy Now Pay Later limits on shopping apps Home loans and auto loans – a lower score means higher interest And worst of all? You may never be told why you were rejected. You just get a polite 'not eligible at the moment" message on your app. But I Never Took a Loan. So I Don't Have a Credit Score? That's even worse. A 'thin file" or 'no credit history" can mean you're invisible to lenders. You won't qualify for the best deals or might get outright rejected. The best way to build a healthy credit score is to: Start with a low-limit credit card, pay full dues every month. Use a Pay Later app carefully not as an extension of income. Avoid skipping even ₹10 worth of dues. Check your score at least once a year on sites like or your bank's app. It's Like Social Credit, Without the Transparency Many fintech critics are raising concerns that credit scores are becoming India's version of a 'social credit" system. You're being silently rated based on behaviour, but with no clear way to know what counted against you. 'We need a public digital literacy drive around credit in India. Most people under 30 don't even know they're being scored," says Naveen Kukreja, CEO of PaisaBazaar. Credit Karma Can Bite You top videos View all In 2025, financial hygiene is no longer optional. That ₹299 Spotify subscription? That 'ignore for now" UPI due? That mindless EMIs-on-EMIs loop? It's all being recorded. And it's all being rated. And unlike school, there's no parent-teacher meeting to warn you. Just a door quietly shutting when you need credit the most. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : Credit Card Bill Credit Score personal finance Location : New Delhi, India, India First Published: July 08, 2025, 11:29 IST News business Credit Score Secrets: How Small Things Like Paying Netflix Late Can Hurt You
Time of India
05-07-2025
- Business
- Time of India
Small businesses go online: More than half of MSMEs prefer UPI transactions; women lead in Aadhaar banking
Almost half of the micro, small and medium enterprises (MSMEs) surveyed across India prefer UPI as their main way to handle transactions and grow their business, a new report by PayNearby has revealed. The MSME Digital Index Report found that 48% of respondents chose UPI as their most preferred payment method, followed by Aadhaar-enabled banking at 39%. Among women entrepreneurs, Aadhaar banking was even more popular, with 42% favouring the secure system that uses fingerprint or face recognition, PTI quoted the report. The survey covered 10,000 individuals and MSMEs working in retail-focused sectors such as kirana shops, mobile recharge outlets, chemist stores, customer service points (CSPs), and travel agencies. It also showed that smartphones have become the primary device for business operations, with 71% of all respondents using them. Among women business owners, this figure went up to 84%. When asked about the benefits of going digital, one-third of MSMEs said they had seen better operational efficiency. Meanwhile, over 73% of small businesses in semi-urban and rural areas reported either increased income or smoother day-to-day operations thanks to digital tools. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sensação de queimação nos pés? Insira essa receita ao acordar G!Saú Undo A small but growing number, 7%, have also started using automated or AI-powered solutions such as inventory management apps, automated billing, and customer engagement platforms. Anand Kumar Bajaj, Founder, MD & CEO of PayNearby, said, 'The MSME sector is the backbone of Bharat's economy, and the rapid adoption of digital tools such as smartphones, UPI, Aadhaar-enabled banking, and emerging AI workflows is proof that this segment is embracing modernisation.' PayNearby is a DPIIT-certified firm that offers branchless banking and digital services across the country. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
05-07-2025
- Business
- Business Standard
UPI leads digital shift as 48% MSMEs use it for business transactions
A new report shows nearly half of MSMEs now prefer UPI for transactions, highlighting a major shift towards digital tools to boost efficiency and income across small businesses Manikant Mishra New Delhi Nearly 50 per cent of MSMEs prefer UPI for business transactions, followed by Aadhaar-enabled banking, according to a new report. The MSME Digital Index Report by PayNearby shows that digital payments are seeing growing adoption among MSMEs. UPI was the most preferred method at 48 per cent, while Aadhaar-enabled banking followed at 39 per cent. Among women-led businesses, Aadhaar-based transactions saw even higher use at 42 per cent, highlighting increased trust in secure technologies such as fingerprint and facial recognition, the report said. The findings are based on a national survey of 10,000 individuals and MSMEs operating in sectors such as kirana stores, mobile recharge shops, medical stores, customer service points (CSPs) and travel agencies. Smartphones have become the main business tool for 71 per cent of users. Usage was higher among women entrepreneurs, at 84 per cent. When asked about the benefits of going digital, one in three respondents reported better operational efficiency. More than 73 per cent of small businesses in semi-urban and rural areas said they had either higher earnings or smoother operations after adopting digital tools. "A small but notable 7 per cent of respondents have begun exploring automated or AI-powered tools, including inventory apps, automated billing systems and customer engagement platforms, mostly through third-party solutions," the report said. Anand Kumar Bajaj, founder, MD and CEO of PayNearby, said: "The MSME sector is the backbone of Bharat's economy, and the rapid adoption of digital tools such as smartphones, UPI, Aadhaar-enabled banking and emerging AI workflows is proof that this segment is embracing modernisation." PayNearby is a DPIIT-certified company offering branchless banking and digital financial services.
Mint
05-07-2025
- Business
- Mint
Nearly half of MSMEs polled prefer UPI for business transactions, says report
Mumbai, Jul 5 (PTI) Nearly half of MSMEs surveyed prefer UPI as a mode of transaction to grow their business, followed by Aadhaar-enabled banking, says a report. According to the MSME Digital Index Report by PayNearby, digital payments continue to gain strong acceptance among MSMEs, with UPI emerging as the most preferred mode of transaction at 48 per cent, followed by Aadhaar-enabled banking at 39 per cent. Among women entrepreneurs, Aadhaar banking saw even higher preference at 42 per cent, reflecting increasing trust in secure, tech-enabled services such as fingerprint and face authentication, the report said. The report is based a nationwide survey conducted among 10,000 individuals and MSMEs in retail-focused segments such as kirana stores, mobile recharge outlets, medical shops, customer service points (CSPs), and travel agencies. It found that smartphones have emerged as primary business device at 71 per cent while among women, it is even higher at 84 per cent. On benefits from digital adoption, a third of respondents cited improved operational efficiency, while over 73 per cent of small businesses across semi-urban and rural India have seen increased income or improved operational efficiency as a result of adopting digital tools. "A small but notable 7 per cent of respondents have begun exploring automated or AI-powered tools, including inventory apps, automated billing systems, and customer engagement platforms, mostly through third-party solutions," the report said. Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, "The MSME sector is the backbone of Bharat's economy, and the rapid adoption of digital tools such as smartphones, UPI, Aadhaar-enabled banking, and emerging AI workflows is proof that this segment is embracing modernisation." PayNearby, a DPIIT-certified company, is a branchless banking and digital network.
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Business Standard
12-06-2025
- Business
- Business Standard
PayNearby plans to add 500K retailers, hire 300-400 people by March 2026
PayNearby has lined up an investment of $50-60 million over the next three years through internal accruals to scale its offerings and deepen its market presence Press Trust of India Mumbai Branchless banking and digital network PayNearby on Thursday said it plans to expand its national footprint by adding 5 lakh retailers over the next two years. The company also plans to hire an additional 300 to 400 team members by March 2026 to support the next phase of growth, PayNearby Founder, MD and CEO, Anand Kumar Bajaj said. The fintech firm employs more than 850 people as of March 31, 2025. "The company is focusing on strengthening platform capabilities, expanding reach, and accelerating UPI-led adoption aimed at onboarding 500 million users across India," Bajaj said. PayNearby plans to further expand its national footprint by adding 5 lakh retailers over the next two years, the official said. "Our growth plan remains centred on expanding our reach and impact across Bharat. In our next phase, we aim to become the third-largest UPI player in the country," Bajaj said. On financial performance, he said the company has recorded 12 consecutive quarters of profitability, underscoring a sustained period of strong performance. In FY25, the company reported an EBITDA of Rs 17 crore, with profit momentum accelerating in the last four quarters, he added. PayNearby has lined up an investment of $50-60 million over the next three years through internal accruals to scale its offerings and deepen its market presence. "We aim to onboard the next 500 million citizens through our distribution-as-a-service (DaaS) model. This will be achieved by deepening our presence in semi-urban and rural markets and scaling our UPI offering to the last mile," he added. PayNearby operates on a B2B2C model and partners with neighbourhood retail stores to enable them with tools to provide digital and financial services to local communities. It claims to have a network of 13 lakh retailers.
