Paytm Postpaid Users Can Now Covert Monthly Bill into Flexible EMI Options, Here's How

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posted on 3 years ago — updated on 1 second ago

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Paytm says that users can convert the Postpaid bill into flexible EMIs within the first seven days of the bill generation. Users can also pay postpaid bills with modes such as UPI, Debit card, and net banking.

Paytm has announced that its postpaid users can now convert their accumulated monthly bill to flexible Equated Monthly Installments (EMIs). The feature essentially means that Paytm Postpaid users can purchase products without any budget constraints and pay back the amount in easy installments that include nominal interest rates. The digital payment company says that users can convert the Postpaid bill into flexible EMIs within the first seven days of the bill generation. The Paytm Postpaid service works with goods and services provided by Paytm Mall, Uber, Myntra, Lenskart, Gaana, Pepperfry, HungerBox, Patanjali, and more.

Additionally, Paytm postpaid users can also purchase home essentials from Kirana stores and other retailers like Reliance Fresh, Haldiram, Apollo Pharmacy, Croma, and Shoppers Stop. Paytm in a blog said that the flexible EMI mode of payment would bring relief to its users amid the ongoing COVID-19 pandemic as the increased credit limit and a large set of “use-cases eliminates the need to withdraw cash for meeting monthly household expenses.” The postpaid service offers a credit limit of up to Rs 1 lakh, which can be increased with timely repayments. At the moment, over 7 million users use Paytm postpaid services, and the company hopes to add a total of 15 million users by the end of the current financial year.

Adding another level of flexibility to your shopping experience, Paytm Postpaid now enables you to convert spends into EMIs. https://t.co/kvn5DQCoCb— Paytm (@Paytm) November 23, 2020

Paytm further explains that the postpaid service is available in three different slabs of the credit limit, namely Lite, Delite and Elite. The Postpaid Lite comes with a limit of up to Rs. 20,000, and it is designed for those for users without a credit score. Whereas, the Delite and Elite offer credit limit up to Rs 1 lakh in monthly spend with no additional convenience charges. Other than EMI option, Paytm already offers postpaid bill payment with modes such as UPI, Debit card, and net banking. Paytm is also in the process of integrating postpaid service with over two lakh Paytm’s Android POS (point of sale) devices.

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