Paytm this week, introduced the launch of Postpaid Mini, a need-based and consumption-based credit score for customers to assist them handle their family funds. This product is an extension of its Purchase Now, Pay Later service focused at customers who don’t have a credit score rating. “The concept behind launching this product is to provide a possibility to a wider part of individuals to expertise credit score with smaller ticket dimension loans and be taught fiscal self-discipline,” Bhavesh Gupta, CEO, Paytm Lending advised Monetary Categorical On-line.
He added, “By Postpaid we’re additionally making honest makes an attempt to assist drive consumption within the economic system. Our new Postpaid Mini service helps customers handle their liquidity by clearing their payments or funds on time.” Postpaid Mini will provide loans starting from Rs 250 to Rs 1000 to customers to pay their month-to-month bills, together with cell & DTH recharges, gasoline cylinder reserving, electrical energy & water payments, amongst others.
With Postpaid Mini, customers must repay the mortgage in a interval of 30-days at 0% curiosity. Whereas there isn’t a annual charges or activation prices, there’s a comfort payment for each transaction. The agency has earlier launched Paytm Postpaid’s prompt credit score of as much as Rs 60,000. This service has been launched in partnership with Aditya Birla Finance as a lending associate. By Paytm Postpaid, customers pays at on-line and offline service provider shops in over 550 cities in India.