Paytm, in partnership with Suryodaya Small Finance Bank, has launched Paytm Postpaid as a credit line on UPI. This service offers users a short-term credit facility with up to 30 days of interest-free credit. It allows payments across all merchant UPI QR codes and online platforms, enhancing user convenience and providing flexible payment options.
Paytm Postpaid on UPI
Paytm has introduced Paytm Postpaid, a credit line service on UPI, in collaboration with Suryodaya Small Finance Bank. This feature enables users to make payments using a credit line across all UPI merchant touchpoints.
Key Features
Paytm Postpaid offers the following benefits:
- Provides consumers with the flexibility to make instant payments across any merchant UPI QR code or online platform using a short-term credit facility.
- Offers up to 30 days of interest-free credit, allowing payments to be settled the following month.
How it Works
With Paytm Postpaid, consumers can make payments using a credit line on UPI for various transactions, including scanning any UPI QR code, online shopping, recharges, bill payments, and bookings on the Paytm app. The service gives individuals the flexibility to spend now and repay later.
Lending Partnership
Avijit Jain, Chief Operating Officer – Lending at Paytm stated that Paytm Postpaid enables consumers to manage their expenses with ease.
Vishal Singh, Chief Information Officer and Head Digital Banking at Suryodaya Small Finance Bank (SSFB) said that the collaboration expands access to secure and responsible credit.
Onboarding Process
To onboard on Paytm Postpaid:
- Open the Paytm app and tap the Paytm Postpaid icon on the Home page.
- Create your Credit Line on UPI account by filling in your basic details, validate your KYC, and set up the mandate.
- To start using the Credit Line, link your account with UPI.
- Choose Suryodaya Small Finance Bank and authenticate using Aadhaar.
- Set up a UPI PIN and start making payments through the linked credit facility on UPI.
Source: BSE
