Paytm has partnered with two Non-Banking Financial Companies (NBFC) to expand Paytm Postpaid for more payment use-cases. According to the company, you can now use Paytm Postpaid to buy groceries, milk, and other home essentials from your local stores and established retailers including Reliance Fresh, Haldiram, Apollo Pharmacy, Croma, and Shoppers Stop.
As part of the expansion, the company will also offer bill payment services, shopping on Paytm Mall, and online payments at Domino’s, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer’s, and more. You may repay bills by the 7th of each month.
Also, Paytm has increased the credit limit for Paytm Postpaid to Rs.1,00,000. The increased limit will be initially limited to select users. According to Paytm, some users will see a Postpaid icon in the Financial Services section to avail Paytm Postpaid after completing online KYC with partner NBFC.
Meanwhile, Paytm has introduced three new variants of Paytm Postpaid namely Lite, Delite, and Elite. The allocation will be based on partner NBFC’s assessment. Paytm Postpaid Lite comes with limits up to Rs. 20,000 and a convenience charge.
Customers in Delite and Elite tiers will get credit limits from Rs. 20,000 to Rs. 1,00,000 with no convenience charges. Paytm mentions that there will not be any additional costs for activating and keeping Paytm Postpaid.
“Paytm Postpaid is our mission to provide access to credit to every Paytm user. During this ongoing pandemic, it becomes more important for us to stand by fellow Indians and give them the power to buy on credit when required,” said Amit Nayyar, President at Paytm in a statement.