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India’s leading digital financial services platform Paytm
India’s leading digital financial services platform Paytm

Paytm postpaid launches flexible EMI options

  • Paytm's instant credit service offers users flexibility in paying back their dues. Nominal interest rates charged on EMI facility. Upto 1 lakh instant credit available to consumers on Paytm Postpaid

Paytm, India’s leading digital financial services platform, announced that the users of its postpaid service can now convert their spends into EMIs. With this, the company aims to enable the consumers to purchase essentials without any budget constraints and pay back the amount in easy installments. The users can avail of Paytm's buy now and pay later facility for a wide range of products and services at more than 5 lakh plus shops and websites.

The feature of Bill EMI enables Postpaid users to convert their total spends into tailor-fit EMIs, payable alongside nominal interest rates. Multiple payment options like UPI, debit card, and netbanking, are already available to repay the postpaid bill. Every month, users are provided a single bill to track all their spends through Postpaid. Within the first 7 days of the bill being generated, they have the option to convert the postpaid bill into flexible EMIs. Postpaid offers a credit limit of up to 1 lakh, which can be increased with timely repayments. It is offered in partnership with two leading NBFCs with an instant credit line for various payments to Paytm app users.

From daily purchases from neighbourhood kirana stores to high-value shopping at popular retail destinations, Paytm Postpaid services can be accessed across a large cross-section of the retail space. Additionally, it has been extended to various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Uber, Myntra, Lenskart, Gaana, Pepperfry, HungerBox, Patanjali, Spencer's among others. Paytm has continued to expand its postpaid services with strategic partnerships with businesses to offer users relief during the ongoing pandemic, as the increased credit limit and a large set of use-cases eliminates the need to withdraw cash for meeting monthly household expenses.

Postpaid is available in three different slabs of credit limit, namely Lite, Delite and Elite. Postpaid Lite comes with a limit of up to 20,000, and is the variant designed for users without a credit score to avail the convenience and benefits of instant credit. Delite and Elite offer credit limits upto Rs1 lakh in monthly spends with no additional convenience charges.

Bhavesh Gupta, CEO - Paytm Lending, said, "Our postpaid service has emerged as an important payment option for our fellow citizens, especially during the festive season. We are humbled to see that our service is already being availed by over seven million users, and we are on the way to cross the milestone of 15 million users by the end of the current financial year. We stay committed to expanding our partnership with all kinds of business segments across the country and offering a transparent and flexible payment option to our users."

Paytm Postpaid is also in the process of integration with over two lakh Paytm's Android POS devices powering shoppers to buy on credit and benefitting the retailers across the country. This service is already available for recharges and bill payments on Paytm, online payments on internet apps and also for buying home essentials from kirana stores.






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