Paytm has today announced that Paytm Postpaid users will now have the option of paying back their monthly dues in the form of EMIs. This, the company hopes will allow users to spend without worrying about their monthly budget limitations, and will add more flexibility in how its users spend money and shop using the app.
The company offers a credit limit of up to Rs. 1 lakh for its Paytm Postpaid users. There are a total of three categories available with Paytm Postpaid for credit limits — Lite, Delite, and Elite. Postpaid Lite users will get a credit limit of Rs. 20,000, whereas both Postpaid Delite and Postpaid Elite users will get a credit limit of Rs. 1 lakh for their monthly spend. Moreover, the company is saying that Delite and Elite users won’t have to pay any convenience charge either for availing the new EMI feature. In case you’re wondering, the Rs. 1 lakh limit can be increased over time by making timely repayments to Paytm.
Speaking about the new credit facility, Bhavesh Gupta, CEO of Paytm-Lending said “Our postpaid service has emerged as an important payment option for our fellow citizens, especially during the festive season. We are humbled to see that our service is already being availed by over 7 million users, and we are on the way to cross the milestone of 15 million users by the end of the current financial year. We stay committed to expanding our partnership with all kinds of business segments across the country and offering a transparent and flexible payment option to our users.”