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The coronavirus crisis has led to limited physical interactions and more utilization of digital spaces. Paytm on Monday announced that their platform would be extending postpaid services covering neighborhood kirana stores and retail chains like Croma, Reliance Fresh, Haldiram, Apollo Pharmacy among others. The service will allow its users to buy groceries and other essentials online while also allowing them to make bill payments.

Paytm has partnered with two NBFCs to facilitate the service as they will offer an instant credit line for various payments to the app users. The company said in a statement, “Seeing an increasing demand for consumer credit during the ongoing pandemic, the company has increased this credit limit up to Rs 1 lakh of monthly spends to enable payment for large items such as furniture and consumer electronics among others.”

The service is currently not accessible by everyone as only a few select users will be able to avail the option of ‘Paytm Postpaid’ once they complete their KYC with the partner NBFC. The monthly bill will be scheduled for 7th of each month. The firm believes that this facility will remove the need to withdraw cash often for buying essentials as it will provide large credit limit and a large set of use-cases.

Amit Nayyar, President of Paytm stated, “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.”

Paytm has introduced three categories of Postpaid as Lite, Delite and Elite, offered based on the NBFC’s assessment. Postpaid Lite has a credit limit of Rs 20K with a small convenience charge. The other two variants offer credit limit from Rs 20K to Rs 1 lakh in monthly spends with no convenience charge. The aim behind introducing Lite version is to help the consumers with low credit score to avail the benefits of the service.


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