Can I invest in my mother NPS using my credit card?
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(General) Few things to achieve Axis & other milestone
PiperatGatesofDawn
TF Premier
But not claim tax benefit. 🙂
Obviously 🙂 But the pop up just before payment was saying to be paid only by own account.. hence the confusion
No, i have axis magnus
No way they can verify. Should be safe technically
bugmenot
TF Legend
Try with smaller amount using magnus. Once transaction settles, get mcc from customer care. They may first refuse but you should tell if the T&C are based on mcc, how a customer can decide where to spend.
I made a transaction of above 1L in akbar travel through magnus through travel agent, message received like transaction done on akbar travel online booking lets see points and milestone
Just to understand: If you are booking flight in the other name every month from travel edge then axis bank will not ask any questions in near future that you are using your card for others travel bookings.
Hey Thanks. Was still travelling and just finished the int'l trip yesterday, hence the delay. We, a family of 4 - (wife+2 kids) - did a 18 day trip - KL - Langkawi - Bali - Sing. I'll try to post the details in the forum in a few days. Hopefully it maybe helpful to someone. Thanks.
That risk always exists. One needs to substantiate if asked for which wont be easy.
@kkk & other long time investors - Have you lost any money on your personal investment in Invoice Discounting ever?
If yes, how much. My understanding from this thread is no one lost out on the entire invoice but there are also chances of being paid lesser or later than the closure date.
P.S:- I read as much as possible over the last 2 days on this thread and other resources online + a couple of YouTube videos but it's hard to make the decision. My investment portfolio is reasonably diversified and I have been looking for alternate options but still in splits over Invoice Discounting.
I ruled out Falcon based on the comments on this thread or otherwise and simply because I can't trust a company that does not disclose the vendor name, this is even as companies like TradeCred have been doing that for years now.
Based on online views, TradeCred is a trusted platform and reasonable transparency but some issues that still concern me are:-
1. Comments from user Pratik Chandek (Google store review for TradeCred) in Sep'21 - where the vendor and sourcing company were one and the same (Smartpaddle vs. Bizingo, the latter being the sourcing company but also the sister concern of Smartpaddle). It looks like TradeCred already declared this as Internal transaction but isn't this a major flag considering the risks involved in such transactions within the same group? - why would they even allow such deals in the first place. Have you seen this yourself and If yes, how often does it happen.
2. Ankit Oberoi (Google store review for TradeCred) talks about reduced IRR by 10% as penalty in overdue deal. What does this mean. Did the user try to encash before the closure and hence the penalty or something else.
Other aspects:-
3. I tried searching online and saw mixed answers on whether Invoice Discounting is regulated by government. There is PPS 2007 Act which regulate FinTech companies which operate in any sort of money market but nothing specific for Invoice Discounting. What's your opinion on this subject?
4. I used to be involved in Procurement at a large MNC almost a decade ago and understand the basics of invoicing. For the sake of this discussion, I'll break them into two types:
a. Invoice after getting delivery of the order (product) and possible verification. Which means the payment will most certainly happen because the dependency is on the MNC (which usually don't default) and the point is only when the payment will happen and NOT whatever the payment will happen subject to fulfilling certain criteria.
b. Invoice (or internally referred to as Work Orders in some companies) raised with the vendor and payment is subject to delivery order while meeting certain quality criteria.
My question is:- is there a distinction between the two in platforms like TradeCred & Falcon. Or is it one over the other. Reason for asking this question: I'll be very comfortable in Type A investement as compared to Type B, where the risk will be substantially higher.
5. If and when the vendor or company is at fault. Have you experienced any live reconciliation efforts be platforms such as TradeCred. Such as using recovery agents or post dated cheques as collateral?
In the end, I'm trying to assess the risks involved with this type of investement and hoping the discussions also help others who are in similar pursuits
Interesting reads on the subject:-
Regulation of invoice discounting start-ups: Is RBI proposing a disproportionate regulation? - IndiaCorpLaw
[The following guest post is contributed by Srinivas Medisetty, who is presently working as a legal counsel in Ola (ANI Technologies Private Limited) advising on the regulatory and litigation aspects of the company. Views expressed are personal.] The Securities and Exchange Board of India...
Invoice Discounting Getting Popular With Retail Investors On Fintech Platforms
Invoice discounting, which was traditionally done by banks to provide immediate credit to vendors against bills receivable, is now getting popular with retail investors across many fintech platforms
Side note:- It appears as if RBI also tried to create a centralised platform similar to Invoice Discounting but it failed to take off: https://m.rbi.org.in//scripts/bs_viewcontent.aspx?id=2904
I have so far not lost money in Invoice Discounting. When I started investing in Invoice Discounting, Kredx incident was done so didn't invest in that platform.@kkk & other long time investors - Have you lost any money on your personal investment in Invoice Discounting ever?
If yes, how much. My understanding from this thread is no one lost out on the entire invoice but there are also chances of being paid lesser or later than the closure date.
P.S:- I read as much as possible over the last 2 days on this thread and other resources online + a couple of YouTube videos but it's hard to make the decision. My investment portfolio is reasonably diversified and I have been looking for alternate options but still in splits over Invoice Discounting.
I ruled out Falcon based on the comments on this thread or otherwise and simply because I can't trust a company that does not disclose the vendor name, this is even as companies like TradeCred have been doing that for years now.
Based on online views, TradeCred is a trusted platform and reasonable transparency but some issues that still concern me are:-
1. Comments from user Pratik Chandek (Google store review for TradeCred) in Sep'21 - where the vendor and sourcing company were one and the same (Smartpaddle vs. Bizingo, the latter being the sourcing company but also the sister concern of Smartpaddle). It looks like TradeCred already declared this as Internal transaction but isn't this a major flag considering the risks involved in such transactions within the same group? - why would they even allow such deals in the first place. Have you seen this yourself and If yes, how often does it happen.
2. Ankit Oberoi (Google store review for TradeCred) talks about reduced IRR by 10% as penalty in overdue deal. What does this mean. Did the user try to encash before the closure and hence the penalty or something else.
Other aspects:-
3. I tried searching online and saw mixed answers on whether Invoice Discounting is regulated by government. There is PPS 2007 Act which regulate FinTech companies which operate in any sort of money market but nothing specific for Invoice Discounting. What's your opinion on this subject?
4. I used to be involved in Procurement at a large MNC almost a decade ago and understand the basics of invoicing. For the sake of this discussion, I'll break them into two types:
a. Invoice after getting delivery of the order (product) and possible verification. Which means the payment will most certainly happen because the dependency is on the MNC (which usually don't default) and the point is only when the payment will happen and NOT whatever the payment will happen subject to fulfilling certain criteria.
b. Invoice (or internally referred to as Work Orders in some companies) raised with the vendor and payment is subject to delivery order while meeting certain quality criteria.
My question is:- is there a distinction between the two in platforms like TradeCred & Falcon. Or is it one over the other. Reason for asking this question: I'll be very comfortable in Type A investement as compared to Type B, where the risk will be substantially higher.
5. If and when the vendor or company is at fault. Have you experienced any live reconciliation efforts be platforms such as TradeCred. Such as using recovery agents or post dated cheques as collateral?
In the end, I'm trying to assess the risks involved with this type of investement and hoping the discussions also help others who are in similar pursuits
Interesting reads on the subject:-
Regulation of invoice discounting start-ups: Is RBI proposing a disproportionate regulation? - IndiaCorpLaw
[The following guest post is contributed by Srinivas Medisetty, who is presently working as a legal counsel in Ola (ANI Technologies Private Limited) advising on the regulatory and litigation aspects of the company. Views expressed are personal.] The Securities and Exchange Board of India...indiacorplaw.in
Invoice Discounting Getting Popular With Retail Investors On Fintech Platforms
Invoice discounting, which was traditionally done by banks to provide immediate credit to vendors against bills receivable, is now getting popular with retail investors across many fintech platformswww.outlookindia.com
Side note:- It appears as if RBI also tried to create a centralised platform similar to Invoice Discounting but it failed to take off: https://m.rbi.org.in//scripts/bs_viewcontent.aspx?id=2904
Platform I have invested on -
TradeCred - 8 deals each of Rs. 50k
Jiraaf - 3 deals (each was in the range of around Rs. 90-95k)
Falcon (Riskiest one) but so far no default yet.
Out of above, I feel TradeCred has better trust factor followed by Jiraaf.
Personally I don't think Invoice Discounting is good investment. The risk used to be huge as before minimum ticket to enter used to be >= 5lakhs and it was mainly for HNI. So, you invest 5 lakh and get some 18-19k(realistic value) in 3 months time duration as pointed by Ankur in his video. Risking 5 lakh for 18-19k is not worth as per me. If you have lot of surplus amount after keeping aside emergency fund then it's fine. My total portfolio is around 1cr or so, so I am ok to put here and currently doing it mainly since it allows Credit card to invest. If not, I might stop investing in Invoice discounting.@kkk & other long time investors - Have you lost any money on your personal investment in Invoice Discounting ever?
If yes, how much. My understanding from this thread is no one lost out on the entire invoice but there are also chances of being paid lesser or later than the closure date.
P.S:- I read as much as possible over the last 2 days on this thread and other resources online + a couple of YouTube videos but it's hard to make the decision. My investment portfolio is reasonably diversified and I have been looking for alternate options but still in splits over Invoice Discounting.
I ruled out Falcon based on the comments on this thread or otherwise and simply because I can't trust a company that does not disclose the vendor name, this is even as companies like TradeCred have been doing that for years now.
Based on online views, TradeCred is a trusted platform and reasonable transparency but some issues that still concern me are:-
1. Comments from user Pratik Chandek (Google store review for TradeCred) in Sep'21 - where the vendor and sourcing company were one and the same (Smartpaddle vs. Bizingo, the latter being the sourcing company but also the sister concern of Smartpaddle). It looks like TradeCred already declared this as Internal transaction but isn't this a major flag considering the risks involved in such transactions within the same group? - why would they even allow such deals in the first place. Have you seen this yourself and If yes, how often does it happen.
2. Ankit Oberoi (Google store review for TradeCred) talks about reduced IRR by 10% as penalty in overdue deal. What does this mean. Did the user try to encash before the closure and hence the penalty or something else.
Other aspects:-
3. I tried searching online and saw mixed answers on whether Invoice Discounting is regulated by government. There is PPS 2007 Act which regulate FinTech companies which operate in any sort of money market but nothing specific for Invoice Discounting. What's your opinion on this subject?
4. I used to be involved in Procurement at a large MNC almost a decade ago and understand the basics of invoicing. For the sake of this discussion, I'll break them into two types:
a. Invoice after getting delivery of the order (product) and possible verification. Which means the payment will most certainly happen because the dependency is on the MNC (which usually don't default) and the point is only when the payment will happen and NOT whatever the payment will happen subject to fulfilling certain criteria.
b. Invoice (or internally referred to as Work Orders in some companies) raised with the vendor and payment is subject to delivery order while meeting certain quality criteria.
My question is:- is there a distinction between the two in platforms like TradeCred & Falcon. Or is it one over the other. Reason for asking this question: I'll be very comfortable in Type A investement as compared to Type B, where the risk will be substantially higher.
5. If and when the vendor or company is at fault. Have you experienced any live reconciliation efforts be platforms such as TradeCred. Such as using recovery agents or post dated cheques as collateral?
In the end, I'm trying to assess the risks involved with this type of investement and hoping the discussions also help others who are in similar pursuits
Interesting reads on the subject:-
Regulation of invoice discounting start-ups: Is RBI proposing a disproportionate regulation? - IndiaCorpLaw
[The following guest post is contributed by Srinivas Medisetty, who is presently working as a legal counsel in Ola (ANI Technologies Private Limited) advising on the regulatory and litigation aspects of the company. Views expressed are personal.] The Securities and Exchange Board of India...Invoice Discounting Getting Popular With Retail Investors On Fintech Platforms
Invoice discounting, which was traditionally done by banks to provide immediate credit to vendors against bills receivable, is now getting popular with retail investors across many fintech platforms
Side note:- It appears as if RBI also tried to create a centralised platform similar to Invoice Discounting but it failed to take off: https://m.rbi.org.in//scripts/bs_viewcontent.aspx?id=2904
I was using a similar platform - https://leafround.com for reaching the milestone until last month. But, they have now removed the credit card option for payment. Will try out Falcon next month. Thanks!
ChatGpt ? 😛
@RewardsAlert Today I received the normal ER points of akbar travel online booking so will receive 1L milestone points in aug 23
RewardsAlert
TF Legend
100% you will receive the milestone if you have received the normal ones.
grshnehete
TF Select
I was checking TradeCred to see about the invoice discounting which is discussed here. on checking the deposit option, I do not see credit card option to load into their wallet. I see bank transfer and UPI only.
Am I missing something?
Am I missing something?
Through UPI. Use BHIM and then followed by Rupay CC
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