Paytm, one of the largest online payment platforms of the country has just announced that it has reached a milestone of 7 million users for its Postpaid service. With this, the company has also extended the Postpaid service to Android POS (point-of-sale) devices and Mini App Store. This will expand the reach of micro-credit to more payment segments in the country. Paytm has further targeted to reach the milestone of 15 million Postpaid users by the end of the current financial year (March 31, 2021). More details on the story ahead.
Paytm Extends Postpaid Service to Android Mini App Store and POS Devices
It was only last month that Paytm announced the Mini App Store offering products/services from over 300 individual platforms. Now the company has announced an extension of its Postpaid services to the Mini App Store as well. For the unaware, Paytm Postpaid is a service which offers an instant credit line to the Paytm app users. For providing this service, Paytm has partnered with two of the leading NBFCs (non-banking finance company) of the country. Since the festive season is approaching, Paytm has also extended the Postpaid service to Android POS devices. Over 2 lakh POS devices across the country are going to be integrated with the Postpaid service. This will benefit retailers across the country in a large way. The Paytm Postpaid is available for the users in three different categories. The first being ‘Lite’, which allows a credit limit of up to Rs 20,000. The second and third being ‘Delite’ and ‘Elite’, both allowing a credit limit of up to Rs 1,00,000 to the users. Postpaid Lite will allow users without any credit score the convenience of buying products/services up to Rs 20,000 and pay later. The Paytm Postpaid has helped the users in the pandemic since the need to withdraw cash from the ATM machines dropped significantly lower with the use of it. Bhavesh Gupta, CEO of Paytm Lending said, “We believe that Paytm Postpaid has immense potential and opportunity to become as ubiquitous as credit cards. It is fast becoming an important payment option for everyday wants and needs. We are expanding our partnerships with as many business segments and delivering a transparent payment option without any charges.”
