Paytm Launches Low Cost Instant Postpaid Mini Loans To Help Users Manage Monthly Expenses

According to a source, Paytm now has no Chinese nationals on its board. US citizen Douglas Feagin has joined Paytm’s board of directors on behalf of Ant Group.

Paytm this week announced the launch of Postpaid Mini, a need and consumption based credit for users to help them manage their household finances. This product is an extension of its Buy Now, Pay Later service for users without a credit score. “The idea behind the launch of this product is to empower more people to experience credit with smaller loans and learn tax discipline,” said Bhavesh Gupta, CEO of Paytm Lending at Financial Express Online.

He added: “Through Postpaid, we are also making sincere attempts to help stimulate consumption in the economy. Our new Postpaid Mini service helps users manage their cash flow by clearing their bills or payments on time. Postpaid Mini will offer loans ranging from Rs 250 to Rs 1000 to users to pay for their monthly expenses, including mobile and DTH top-ups, gas cylinder reservations, electricity and water bills, among others.

With Postpaid Mini, users will have to repay the loan within 30 days at 0% interest. While there is no annual fee or activation fee, there is a convenience fee for each transaction. The company previously launched Paytm Postpaid instant credit of up to Rs 60,000. This service was launched in partnership with Aditya Birla Finance as a lending partner. Through Paytm Postpaid, users can pay at online and offline merchant stores in over 550 cities in India.

Get live stock quotes for BSE, NSE, US market and latest net asset value, mutual fund portfolio, see the latest IPO news, top IPOs, calculate your tax with the help of the income tax calculator, know the best winners, the best losers and the best equity funds in the market. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.

About admin

Check Also

Indian digital payments company Fintech Paytm introduces low-cost instant loans to help consumers manage their spending

Indian digital payments giant Payment recently introduced Paytm Postpaid Mini, which allows users to acquire …

Leave a Reply

Your email address will not be published. Required fields are marked *