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Paytm’s new offer: Now spend up to 1 lakh rupees, bill pay next month.

# Headlines Business Technology

Paytm has expanded the scope of its postpaid offer to expand its business. Under this, you can pay from Paytm at some offline stores and neighborhood shops right now and you have to pay the money next month. Paytm has expanded the scope keeping in mind that people are focusing more on contactless digital transactions due to coronavirus. Explain that the Paytm payment has increased 4 times during the lockdown, keeping in mind that the company wants to cash in on this opportunity well.

Where can I use it?
Paytm’s postpaid service can be used at Reliance Fresh, Haldiram, Apollo Pharmacy, Croma, Shoppers Stop, etc. By using this service, people can buy groceries, milk, and other essential items from the shops around them. Domino, Tata Sky, Pepperfry, Hungerbox, Patanjali, Spencer’s bills can also be paid using Paytm postpaid.

Limit of up to 1 lakh
Paytm has launched this postpaid service in partnership with two NBFCs. Under this, Paytm customers can pay to buy goods now, but they have to pay the money next month. Paytm has fixed a limit of 1 lakh rupees every month for this.

How to use this service?

  • Only select users will see the postpaid icon in Financial Services.
  • Paytm has released three variants of users – Light, Delight, and Elite.
  • Under postpaid light, a limit of 20 thousand rupees will be available and a convenience charge will be added to the monthly bill.
  • For Delight and Elite customers, this limit will start from Rs 20 thousand to Rs 1 lakh and no Convenience Charge will be added to their Monthly Bill.
  • Before giving the postpaid option to the user, his credit profile will be seen by the partner NBAC.
  • The customer has to complete online KYC with partner ABFC.
  • The bill has to be paid by the 7th of every month.

Why are Convenience fees charged from light users?
The company has said that the light version is for those who do not have a good credit score, but they can also avail of this facility by paying a convenience fee.