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Paytm starts Postpaid Mini service

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Paytm starts Postpaid Mini service
fsjd_icon1 CURRENT AFFAIRS

Description

Digital payments and financial services platform Paytm launched the Postpaid Mini service for users on July 5, 2021. The postpaid mini service was launched in partnership with Aditya Birla Finance Ltd. This is an extension of the Paytm Buy Now Pay Later service. It aims to increase affordability among newcomers to lending.

It is a small instant lending system that will give users flexibility, as well as help, manage their household expenses to maintain liquidity in the face of the COVID-19 pandemic. Paytm Postpaid provides a period of up to 30 days to repay loans at zero interest rate. In addition, there will be no annual or activation fees. However, a minimum convenience fee will be charged.

Postpaid Mini value

This mini postpaid service will help new citizens start a credit path and develop financial discipline. This will help reduce consumption in Economy Mode. The service will also help users manage their liquidity by paying bills or payments on time.

Instant loan system

With Postpaid, Mini Paytm will offer access to loans ranging from Rs 250 to Rs 1,000. In addition, Paytm's Postpaid mini service will provide a loan of up to Rs 60,000. This tool will help users pay their monthly expenses like mobile phone and DTH recharge, gas cylinder reservations, Paytm shopping, electricity and water bills, etc.

Where can you use this service?

This service can be used to pay at online and offline stores throughout India. Paytm Postpaid is currently accepted in thousands of petrol stations, Kirana shops or pharmacies. Postpaid Paytm is available in 550 cities in India.

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