Paytm Postpaid: Spend now, pay next month at local kirana stores; here's how

Paytm has expanded Paytm Postpaid facility that offers the spend now, pay next month option to offline retail outlets and neighbourhood kirana shops keeping in mind that people are increasingly using digital transactions and contactless payments due to coronavirus.

Paytm postpaid service can be used at Reliance Fresh, Haldiram, Apollo Pharmacy, Croma, Shoppers Stop. This service enables customers to buy groceries, milk, and other home essentials from local shops.

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Bills at Domino’s, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer’s can also be paid by using Paytm Postpaid facility. Paytm's postpaid service is offered in partnership with two NBFCs with an instant credit line for various payments to Paytm app users.

Also read: Paytm reaches out to state govts on contactless food ordering at restaurants

Digital credit is offered to Paytm app users where one can 'spend now and pay the next month'. A credit limit of up to Rs 1 lakh monthly spends is offered by Paytm.

Here are details of the spend now, pay next month option

> Select users will be shown a postpaid icon in the financial services section.
> Paytm has released three variants for users -- Lite, Delite and Elite.
> Postpaid Lite will have a limit of Rs 20,000 and a convenience charge will be added to the monthly bill.
> The credit limit for Delite and Elite users will be from Rs 20,000 to Rs 1,00,000 in monthly spends with no convenience charges.
> The credit profile of the user will be assessed by a partner NBFC before offering the postpaid option.
> Customer will have to complete online KYC with Paytm's partner NBFCs.
> To view monthly spends via Paytm app, users will have an option to get through the passbook in this service.
> The bill will have to be paid on or before the 7th of each month.
> Paytm will not charge any extra cost to activate any postpaid offer

Also read: Paytm claims telecom firms not preventing phishing; Delhi HC seeks Centre, TRAI response

The company in a blog said: "Our Postpaid Lite variant has been designed so that our users without excellent credit scores are also able to avail the convenience & benefits of this service."

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