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Business EconomyPosted at: Nov 23 2020 7:57PM


Paytm Postpaid launches flexible EMI options, empowers Indians to shop without budget constraints

Kolkata, Nov 23 (UNI) India’s leading digital financial services platform Paytm today announced
that the users of its postpaid service can now convert their spends into Equated Monthly
Installments (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, thereby adding another
level of flexibility to their shopping process.
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 Net banking, 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 Rs. 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 of groceries, milk, and other home essentials from neighbourhood
Kirana stores, to high value shopping at popular retail destinations such as Reliance Fresh,
Haldiram, Apollo Pharmacy, Croma, Shoppers Stop among others, 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 Postpaid services with strategic partnerships with
businesses to offer users relief during the ongoing pandemic, as the increased credit limit
& 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 Rs. 20,000, and is the variant designed for users
without a credit score to avail the convenience & benefits of instant credit. Delite and Elite
offer credit limits upto Rs. 1,00,000 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 7 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 2 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 & bill payments on Paytm, online
payments on internet apps and also for buying home essentials from kirana stores.
UNI SJC BM
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Tags: #Paytm Postpaid launches flexible EMI options# empowers Indians to shop without budget constraints
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