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Thursday, January 28, 2021

Paytm introduces flexible EMI options

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NEW DE:HI: Digital financial services provider Paytm has introduced a new mode of payment for its postpaid users. The company has announced that the users of its postpaid service can now convert their spends into Equated Monthly Installments (EMIs). The users can now avail of Paytm’s buy now and pay later facility for a wide range of products and services at more than 5 lakh plus shops and websites.
The feature of Bill EMI enables Postpaid users to convert their total spends into tailor-fit EMIs, payable alongside nominal interest rates. Every month, users are provided a single bill to track all their spends through Postpaid. Within the first 7 days of the bill being generated, they have the option to convert the Postpaid bill into flexible EMIs. Postpaid offers a credit limit of up to Rs. 1 lakh, which can be increased with timely repayments. It is offered in partnership with two leading NBFCs with an instant credit line for various payments to Paytm app users.
Recently, Paytm partnered with Uber in order to allow riders to pay using the Paytm Postpaid account. This means users can take an Uber ride and can pay later for it. The company claims that the Postpaid service integration will further promote digital transactions on Uber’s platform and enhance the customer experience.
In order to avail the facility, registered users can pay through the Paytm app, with funds from their activated Postpaid account after completion of a trip. The user can repay later at his convenience, by paying his Paytm Postpaid bill which is generated on a monthly basis.

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