Paytm issues clarification, says postpaid service is 'active and operational'

Representative Image (Image: Reuters)

Paytm, on August 14, issued a clarification on its blog saying its postpaid service is still "active and operational" following news reports stating otherwise.

The company added, "Paytm Postpaid is issued by Clix Capital which is India’s leading digital lending NBFC. They have been managing huge requests for pending KYCs because of which you may not have been able to access your Paytm Postpaid account. Once KYC is completed, you will be able to use it as before."

They also said that users who had completed their KYC were already able to avail the service.

The Paytm mobile-app was also down in the evening due to issues yet to be identified, as reported by ETNow. Users of the application were experiencing trouble in conducting transactions via the app.

Paytm is India’s largest digital payments company, with over 50 percent standalone market share in the payment gateway industry. The Vijay Shekhar Sharma-led mobile wallet processes over 400 million transactions each month.