Amidst the COVID-19 pandemic, Paytm has expanded its ‘Postpaid’ lending service, allowing users to shop at grocery stores and several popular retail destinations in their neighbourhood. Customers can now now buy groceries and essentials on credit, without having the need to withdraw cash. The service is also extended to bill payment facilities on Paytm, shopping on Paytm mall and digital payments at various apps. The service is available to limited customers as of now, but Paytm plans to extend the service to more customers. There are three variants of the product – Lite, Delite and Elite.
Two non-banking financial companies- Clix Capital and Arthimpact Digital Loans Pvt. Ltd. have partnered with Paytm to offer the Paytm Postpaid services. Paytm Postpaid Customers can repay the bills by the 7th of each month. Amit Nayyar, president at Paytm, said, “Paytm Postpaid is our mission to provide access to credit to every Paytm user. During the ongoing pandemic, it becomes more important for us to stand by fellow Indians and give them the power to buy on credit when required.”