Paytm, in partnership with Aditya Birla Finance Ltd, has launched Postpaid Mini – an extension of its Buy Now, Pay Later service – to drive affordability amongst those new to credit.
These small-ticket instant loans will give flexibility to users and also help manage their household expenses to maintain liquidity during the ongoing pandemic, the company said in its press release.
With the launch of Postpaid Mini, the company will offer access to loans ranging from ₹250 to ₹1000, in addition to Paytm Postpaid’s instant credit of upto ₹60,000.
This will help users pay for their monthly expenses, including mobile & DTH recharges, gas cylinder booking, electricity & water bills, shop on Paytm Mall and more. With this service, Paytm Postpaid is offering a period of up to 30-days for repayment of loans at 0% interest. There are no annual fees or activation charges, only a convenience fee.
Bhavesh Gupta, CEO of Paytm Lending, said, “We want to help new-to-credit citizens start their credit journey and develop a financial discipline. Through Postpaid we are also making sincere attempts to help drive consumption in the economy. Our new Postpaid Mini service helps users manage their liquidity by clearing their bills or payments on time.”
Through Paytm Postpaid, users can pay at online and offline merchant stores across the country. Paytm Postpaid is currently accepted at thousands of petrol pumps, neighbourhood kirana stores or pharmacy shops, popular chain outlets, internet apps and popular retail destinations among others. Paytm Postpaid is available in over 550 cities in India.
