Paytm announces its latest feature Paytm Postpaid Mini, an extension of its Buy Now, Pay Later service. It says this will help its customers to manage their finances better. This feature will help driving affordability amongst the customers who are new to credit.
These small ticket instant loans will impart flexibility and help users to manage their household expenses to maintain liquidity during the ongoing pandemic. This service is being offered in partnership with Aditya Birla Finance Ltd.
Paytm with its launch of Postpaid Mini is giving access to loans ranging from Rs. 250 to Rs. 1000, along with its previous offerings. In addition to Postpaid Mini, eligible creditworthy users can get Paytm Postpaid’s instant credit of up to Rs. 60’000. The company expects this new feature to help users pay for their monthly expenses, including mobile & DTH recharge, gas cylinder booking, electricity & water bills, shop on Paytm Mall, and more.
With their new feature, Paytm Postpaid is offering a period of up to 30-days for the repayment of loans at 0% interest. There will be no annual fees or activation charges, only a minimal convenience fee. It has also applied for a small finance bank license, and once it receives the license, it will be able to offer these loans on its books.
Bhavesh Gupta, CEO of Paytm Lending says, “We want to help new-to-credit citizens start their credit journey and develop a good financial discipline. With Paytm Postpaid we are also making sincere attempts to help drive consumption in the Indian economy. Our new Postpaid Mini service helps users manage their liquidity by clearing their bills or payments on time.”
Many online and offline stores are accepting Paytm Postpaid
Through Postpaid service, you can make payments to an online store. Also, we can make payments at any offline merchant store across the country. The users need not have to worry about upsetting their monthly budgets, as they can always avail themselves of its Postpaid services.
Paytm Postpaid is currently acceptable in over 550 cities in India. Thousands of petrol pumps, neighborhood Kirana shops, etc. of these cities take payments via Paytm Postpaid. Many popular outlet chains such as Reliance Fresh, Apollo Pharmacy, etc. are also accepting its Postpaid service. Moreover, internet apps like Myntra, Firstcry, Uber, etc., and popular retail destinations such as Shoppers Stop, Croma, etc. accept and offer discounts on payments via Paytm. For more such updates, keep watching this space!