Know about Paytm’s feature of mini loans

Paytm has said that it is starting a new agenda named ‘buy now, pay later’ for its consumers. From now on Paytm will offer micro credit, which will start from Rs 250 to Rs 1000. The consumers who will be able to take up this service, that will depend on the analytics of the company.

Paytm has said that it will eventually expand its market for institutional credit and in future it will also be available to those who are not a consumer of the Paytm app.

Paytm leading CEO Bhavesh Gupta has said that the company is now thinking about expanding this platform as it has seen success that costumers are availing the services of Paytm more than ever. By enabling the service of ‘Buy now, pay later’, Paytm will help thousands of customers. 

This feature is also known as postpaid mini and Paytm has started it in partnership with Aditya Birla Finance. Paytm has already applied for a small financial bank license and if it is able to get this license, it will become a more effective service.

Then Paytm’s customers can have their own books where it will be written down. Paytm has also announced a fresh issue of share to attract more investors. It has planned to rise Rs 12,000 crore through the investors. 

Paytm has already offered credit up to Rs 60,000 under this Paytm postpaid to over thousands of creditworthy customers. But postpaid mini is for those customers who are struggling with paying small bills like electricity bill, fuel bill and etc. In this service there are no annual fees, there are only a little amount of convenience fee.