Ever needed to make a payment before your next salary or payday? That’s where Buy Now, Pay Later (BNPL) can help.
Paytm Postpaid gives you access to a short-term credit limit that you can use for payments and repay later. It can be used across QR payments, online payments and services within the Paytm app, giving you more flexibility when you need it.
Here’s a simple look at how Paytm Postpaid works, where you can use it and what you should know before getting started.
What is Buy Now, Pay Later?
Buy Now, Pay Later is a form of short-term credit that lets you make a purchase or payment now and repay the amount later.
Instead of paying the full amount from your bank balance at the time of payment, you use an available credit limit and repay the amount according to the repayment terms.
With Paytm Postpaid, the credit is available through Paytm and can be used for payments wherever Paytm Postpaid is offered as a payment option.
What is Paytm Postpaid?
Paytm Postpaid is a Buy Now, Pay Later service that provides a short-term credit limit of up to ₹60,000.
The credit is provided by Suryoday Small Finance Bank, while Paytm provides the platform through which you can manage and use the credit.
Once your Paytm Postpaid account is set up, it appears as a payment option when you make supported payments through Paytm.
The idea is simple: spend now, pay next month.
How does Paytm Postpaid work?
Getting started with Paytm Postpaid involves a few steps:
1. Find Paytm Postpaid on the Paytm app
You can find the Paytm Postpaid banner or icon on the Paytm app homepage.
2. Complete the signup process
After you choose to activate Paytm Postpaid and provide consent, your details are evaluated. You then complete the required KYC process, including selfie and Aadhaar verification.
3. View your credit limit
Once the process is complete, your final available credit limit is shown to you. The maximum credit limit can be up to ₹60,000.
4. Set up your account
You’ll need to accept the offer and complete Autopay setup so that your repayments can be collected automatically and on time.
You’ll also set up a PIN for your Paytm Postpaid account.
5. Start using Paytm Postpaid
Once your account is ready, Paytm Postpaid appears as a payment option where it can be used. You can then use your available credit for supported merchant payments.
Where can you use Paytm Postpaid?
Paytm Postpaid is designed to work across a wide range of merchant payments.
Scan and pay at stores
You can use Paytm Postpaid to scan and pay at any payment QR, including non-Paytm QR codes, wherever the payment is supported.
Pay online
When shopping on a website or app that accepts Paytm UPI, select Paytm UPI as your payment option. When you’re redirected to the Paytm app, Paytm Postpaid can appear as one of the available payment options.
Use it on Paytm
You can also use Paytm Postpaid for supported services on the Paytm app, such as recharges, bill payments and flight bookings.
So whether you’re paying at a store, making an online payment or booking a flight, Paytm Postpaid can give you an additional way to pay when you need it.
How long do you get to repay Paytm Postpaid?
Paytm Postpaid offers a credit period of up to 45 days.
For example, if you make a payment on the 1st of the month, you can pay it back by the 14th of the following month, depending on your billing cycle.
This can be useful when an expense comes up towards the end of the month and your next salary or income is still a few days away.
Does Paytm Postpaid charge a fee?
There is no signup fee, and there is no charge simply for signing up and not using Paytm Postpaid.
However, applicable charges may apply when you use the service. A convenience fee can be charged at the time of bill generation, and late payment or mandate bounce charges may also apply.
The applicable charges are shown during the signup process, so make sure you review the terms before accepting the offer.
Can you convert your Paytm Postpaid bill into EMI?
Depending on your usage and repayment history, you may receive an offer to convert your previous month’s bill into an EMI.
Available options can include 3-month or 6-month EMIs. These offers aren’t guaranteed and depend on factors such as usage patterns and timely repayment.
Why use Paytm Postpaid?
Paytm Postpaid can be useful when you have an upcoming expense but would rather pay it from your next month’s cash flow.
Some of its key features include:
- Up to ₹60,000 credit limit
- Up to 45 days of credit
- Works across supported QR, online and Paytm payments
- Can be used at online or offline stores
- No signup fee
- Option to convert certain bills into EMIs, subject to applicable offers
The key is to use short-term credit responsibly and repay your bill on time.
Buy Now, Pay Later with Paytm Postpaid
Buy Now, Pay Later doesn’t have to mean complicated payment processes. Paytm Postpaid – Credit on Paytm UPI gives you a short-term credit option that you can use for supported merchant payments and repay later.
If you’re planning an upcoming purchase or expense and want more flexibility before your next payday, Paytm Postpaid can be worth exploring.
Ready to get started? Open the Paytm app, check out Paytm Postpaid and see the offer available to you.
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