Digital monetary solutions platform Paytm nowadays announced that their postpaid service customers can now convert their spending into Equated Monthly Installments (EMIs). Paytm’s immediate credit service will present customers flexibility in paying back their dues. The function of bill EMI will allow Postpaid customers to convert their total spends into tailor-match EMIs, at a nominal interest price.
With this, the business aims to allow the shoppers to acquire essentials with out any spending budget constraints and spend back the quantity in simple installments, thereby adding a different level of flexibility to their buying method. Users can avail of Paytm’s purchase now and spend later (BNPL) facility for a wide variety of items and solutions at far more than five lakh plus shops and internet sites.
To repay the postpaid bill, various payment choices like UPI, Debit card, and net banking, are currently out there with the platform. Every month, customers are offered a single bill to track all their spending by way of postpaid. Within the initial 7 days of the bill getting generated, they have the selection to convert the postpaid bill into versatile EMIs. Postpaid gives a credit limit of up to Rs 1 lakh, which can be improved with timely repayments. It is presented in partnership with two major NBFCs with an immediate credit line for several payments to Paytm app customers.
From every day purchases to household essentials to higher worth buying at common retail destinations, the Paytm Postpaid solutions can be accessed across a significant cross-section of the retail space. Additionally, it has been extended to several bill payments facilities out there on Paytm, buying on Paytm Mall, and on the internet payments at web apps. Paytm has also expanded the postpaid solutions to present customers relief for the duration of the ongoing pandemic, as the improved credit limit and a significant set of use-circumstances eliminates the require to withdraw money for meeting month-to-month household costs.
Postpaid is out there in 3 distinctive slabs of the credit limit, namely Lite, Delite, and Elite. Postpaid Lite comes with a limit of up to Rs 20,000 and is the variant made for customers with out a credit score to avail of the comfort and advantages of immediate credit. Delite and Elite present credit limit up to Rs 1,00,000 in month-to-month spending with no further comfort charges.
Bhavesh Gupta, CEO, Paytm Lending stated, “The postpaid service has emerged as an important payment option for our fellow citizens, especially during the festive season. 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 method of integration with more than two lakh Paytm’s Android POS devices powering shoppers to purchase on credit and benefitting the retailers across the nation. This service is currently out there for recharges and bill payments on Paytm, on the internet payments on web apps, and also for shopping for household essentials from Kirana retailers.