Paytm Postpaid Launches Flexible EMI Option

Paytm postpaid users can now pay back their dues in Equated Monthly Instalments (EMIs), the company has announced. According to Paytm, the service will add a new level of flexibility to the users’ shopping experience and is available in different categories.

With this, Paytm aims to encourage customer to purchase without any budget constraints as they can now pay back the amount in installments. The buy now and pay later (BNPL) facility by Paytm can be availed for a wide range of products and services at more than five lakhs plus shops and websites. 

The EMI feature will enable postpaid users to convert their total spends into customised EMIs, at a nominal interest rate. The service offers a credit limit of up to Rs. 1 lakh, according to the company.

The postpaid service is available in three different categories namely, Lite, Delite and Elite. Postpaid Lite comes with an upper limit of Rs. 20,000, while Delite and Elite offer credit limits up to Rs. 1,00,000 in monthly spends. 

There is no additional convenience charge with the Delite and Elite categories. The Lite category is for users without a credit score to avail the convenience and benefits of instant credit.

The users will be provided a single bill every month to track their spending. Then, they have the option to convert the Postpaid bill into flexible EMIs within the first seven days of the bill being generated. The Postpaid bill can be paid back through multiple payment options including UPI, Debit card, and Net banking.

Paytm is also in the process of integrating the postpaid service with Paytm’s Android POS devices. This service is already available for recharges and bill payments on Paytm and online payments on Internet apps. 

Disclosure: Paytm’s parent company One97 is an investor in Gadgets 360.

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