What is KalPay?
KalPay is a Shariah Compliant Buy now Pay later service. It allows your customers to split their payments with 2 payment options. One allows them to pay the whole amount within 14 days of your purchase. The other allows them to pay the amount in 4 equal, fortnightly (2-weeks) installments. We bear all the risk of repayments; you just have to add KalPay as a payment option on your store and our QR codes at your retail outlets.
How does KalPay work?
At the time of purchase customers select KalPay as your payment method, we check your credit limit instantly and see if installment option should be given to them. If the amount of transaction is within their credit limit, they check out. Your account is updated with the details of their order and your dues. They pay back the same amount to KalPay according to their payment plan without any additional costs. We give you the whole amount within 2-3 working days. You install our plugin for your website or place our QR codes at your retail outlets.
Is there an application process for KalPay?
Sign up as a merchant on our website. Our customer care representatives will reach out to you within 1 working day, sign an MoU with you and then you can simply download our plugin for your website or place our QR codes at your outlet and your customers can start using KalPay while making purchases from you.
Is this a Shariah compliant form of finance?
KalPay follows all the Shariah finance and banking laws very strictly. We are a Shariah Compliant company.
Are there any fees for using KalPay?
KalPay is totally free for all our consumers, we do charge a late payment fee but that too after giving you constant reminders and a cushion period.
Is there an application process for KalPay?
No, there is no application process for KalPay. You can signup for KalPay by providing us your basic information, such as your name, DoB, CNIC, your mobile number, your address, and a selfie of you.
How do I track my remaining payments?
You can view all the details of your remaining payments on your application or by logging into our web portal.
How do I receive a report of my installments?
You can generate the report through your application or by logging into our web portal.
What if I want to extend my payment deadline?
For the 14-day lump sum payment plan, you can extend the payment deadline by 7 days by paying 5% of the total transaction amount as a fee. For the 4-equal installment plan, you can extend one installment deadline by 7 days by paying 5% of the total transaction amount as a fee.
What if I am unable to pay on time?
The KalPay team will send out reminders via our application, email, texts and calls. After the deadline has passed, we will give our consumers a grace period as well. However, if you still do not pay back the amount, a fee of 7.5% of the total transaction amount will be applicable which will be donated by KalPay.
How do I pay back my installments?
KalPay allows you to link your credit and debit cards directly to our app, so you do not have to worry about paying back on time, our system automatically deducts the amount from your bank on the last payment date. Other than this, you can pay your installments via bank transfer or transferring the amount through mobile wallets.
Can I pay more than the required amount?
Yes, you can pay more than the required installment amount. This amount stays in your account and is adjusted in your later installments. This can also improve your chances of getting a higher credit limit for your later purchases.
Can I link my bank or mobile wallet account?
Yes, you can directly link your credit and debit cards to your KalPay account.
Is my Payment information Safe?
At KalPay, security is our number one priority. We abide by all regulations to ensure safety of all your data.
What is the process of filing for a return?
You have to initiate the process of a return with the merchant/retailer first and then notify KalPay using our application. KalPay will cross check this claim with the company and once verified, we will remove the amount due from your account.
Where do I send the goods I would like to return?
KalPay is a financial service provider only, all your returns are managed by the merchant and the purchase should be returned to them.
I asked for a refund, when will I be able to refund?
If you have not paid any installment till the time of return, there will be no need for a refund. However, in case you return the goods after paying an installment to KalPay, the amount will be kept in your account and adjusted in your next transaction.
I have cancelled my order; how long will it take until I receive a refund?
The amount is adjusted and added in your account as soon as the case has been verified by our team with the merchant.
How does KalPay handle refunds?
We add the amount to your KalPay account which can then be used for later purchases and installments.
How does KalPay handle Returns?
All returns should be directed to the merchant. KalPay verifies the return cases with the customer and the merchant before removing the amount from the consumer’s account.
Am I eligible to use KalPay?
All Pakistani nationals with a computerized CNIC, a smart phone, verifiable phone number and Email ids are eligible to use KalPay.
How do I sign up for my KalPay account?
To sign up for KalPay, you need to download our application and follow the sign-up process. You will be required to sign-up directly through our system, you will be prompted to add the following details, Name, date of birth, CNIC number, mobile number, address, and Email ID. After successfully filling these details, you will be prompted to write your intended username and password. You will be sent a one-time password (OTP) through SMS and email, after which their sign-up process would be complete.
How do I log into my KalPay Account?
You can sign-in by entering your username and password. If your mobile phone has a fingerprint sensor, you will be able to sign-in using that as well.
What if I forget my account password?
Your mobile number will be your KalPay account number, to make it easier for you to remember. In case you forget your password, you can reset it easily by clicking on the forgot password button while signing up and following the steps. For more details and queries, call our helpline for further help.
Am I eligible for Instalments?
KalPay makes real-time decisions using its algorithms to extend the facility of installments to the users. You can improve your chances of getting this facility by increasing your credit score, which is mentioned in your application. Paying back on time improves the chances too!
I was not allowed to purchase products through KalPay, why was that?
KalPay makes real-time decisions using its algorithms to extend the facility of installments to the users. That product or purchase does not fall within your credit limit.
Does using KalPay affect my credit score?
No, using KalPay does not affect your credit score. We have our own credit rating model and score which is linked to your usage of KalPay.
Can I pay off my installments early?
Yes, you can pay your dues any time before the deadline.
What do I need to provide when I make a purchase?
You simply have to choose KalPay as your payment option and write your account number (which is your mobile number) and you are good to go!