One 97 Communications, the parent company of Paytm, has launched Paytm Postpaid as a Credit Line on UPI, in partnership with Suryodaya Small Finance Bank (SSFB), according to a stock market filing today, September 17.
This will help consumers with instant short-term credit, offering the convenience of ‘Spend Now, Pay Next Month’. They can now make payments using a credit line on UPI across all merchant touchpoints.
With the newly launched credit option, consumers can receive up to 30 days of short-term credit, providing individuals with the flexibility to spend instantly and repay the following month. Under this, users can scan any UPI QR code, shopping online or paying for recharges.
Speaking on the development, Avijit Jain, chief operating officer – lending at Paytm said, “Whether it’s paying at a local store, managing household bills, or shopping online, this solution is designed to make life simpler. In partnership with Suryodaya Small Finance Bank and powered by NPCI, this launch reflects our commitment to offering secure, compliant, and innovative payment solutions that truly put consumers first.”
“By enabling Paytm Postpaid on UPI, we are empowering consumers with greater flexibility to manage their everyday spends, while ensuring the reliability of a regulated banking partner. Together with Paytm, India’s trusted payments platform, we aim to deliver a seamless and reliable credit experience that combines convenience with responsibility,” said Vishal Singh, chief information officer and head digital banking at SSFB.
How to use postpaid on UPI
1. Open the Paytm app and tap the Paytm Postpaid icon on the Home page.
2. Create your Credit Line on your UPI account by filling in your basic details, validating your KYC, and setting up the mandate.
3. To start using the Credit Line, link your account with UPI.
4. Choose Suryodaya Small Finance Bank and authenticate using Aadhaar.
5. Set up a UPI PIN and start making payments through the linked credit facility on UPI.
Meanwhile, shares of One 97 Communications were trading at Rs 1,225.95 each, down 0.5 per cent on BSE today at around 11.10 AM.
Doonited Affiliated: Syndicate News Hunt
This report has been published as part of an auto-generated syndicated wire feed. Except for the headline, the content has not been modified or edited by Doonited
