Digital Wallet platform Paytm has introduced a new service called ‘Paytm Postpaid‘. Under this new facility, Paytm users can spend money and pay the payment next month. This is something like that with a credit card. That is the amount spent on the credit card receivable this month and pay it back next month.
Similarly in this, Paytm will make a payment in your account. If you spend postpaid balance, it will be paid on the 15th of next month. You can use this balance to pay on mobile / DTH recharge, movie ticket bookings and shop. You will not need any card or bank details for this.
Like a credit card, it will also have limitations. The more you use the Paytm, the balance limit will increase from Paytm’s side. It will be like a balanced loan, which you have to spend, you have to pay it next month. If you pay the postpaid bill on time, then you will not have to pay any extra charges like interest. Paytm Postpaid users will be limited to spending up to Rs 60,000.
Paytm says cashback offers will be available to users who use Paytm postpaid. To use Paytm Postpaid, you have to log in to the profile section after logging in to the Paytm app. There you will see an option named Paytm Postpaid, which you can click on to create an account. For this you have to give the Aadhar and PAN card number.
However, still not all users of the Paytm Postpaid service have been got. The company has made itself a choose some users and sending them the mail, informing them that they have been selected to use the Paytm Postpaid.