Paytm Postpaid launches flexible EMI options – Here’s all you need to know

Digital financial services platform Paytm today announced that their postpaid service users can now convert their spending into Equated Monthly Installments (EMIs). Paytm’s instant credit service will offer users flexibility in paying back their dues. The feature of bill EMI will enable Postpaid users to convert their total spends into tailor-fit EMIs, at a nominal interest rate.

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. Users can avail of Paytm’s buy now and pay later (BNPL) facility for a wide range of products and services at more than 5 lakh plus shops and websites.

To repay the postpaid bill, multiple payment options like UPI, Debit card, and net banking, are already available with the platform. Every month, users are provided a single bill to track all their spending 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 to home essentials to high value shopping at popular retail destinations, the 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. Paytm has also expanded the postpaid services 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 the 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 of the convenience and benefits of instant credit. Delite and Elite offer credit limit up to Rs 1,00,000 in monthly spending with no additional convenience charges.

Bhavesh Gupta, CEO, Paytm Lending said, “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 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 and bill payments on Paytm, online payments on internet apps, and also for buying home essentials from Kirana stores.