Yes, a user can update the Preferred payment mode any number of times.
Related Question
How will refunds be processed for Freecharge Pay Later?
What will happen if I do not repay on time?
Will the late fee be charged for delayed payments?
Can I repay partial amount?
What is the due date for Freecharge Pay Later?
What is my default Payment mode as a Pay Later user?
Features and Benefits - Freecharge Pay Later
How can I get Freecharge Pay Later?
I am unable to use my Freecharge Pay Later.
Can I change my Preferred payment mode after submitting the choice?
Yes, a user can update the Preferred payment mode any number of times.