In order to offer short term instant digital credit Paytm has joined hands with ICICI Bank and come up with the all new Paytm Postpaid services. Paytm Postpaid means it will allow the Paytm users to shop instantly and then pay the bill later on. Paytm postpaid service is considered to be country's one of the first and unique way to access interest free short term digital credit. This is India's first formal tie up between a scheduled commercial bank and an e-commerce platform to offer digital credit to customers of the commerce platform instantly. If you are wonder as to what is Paytm postpaid credit and how to use Paytm postpaid then here we are with all the information that you might have been looking related to Paytm postpaid.
Still wondering what is Paytm postpaid? It is a unique facility provided to the Paytm users in association with ICICI Bank that allows them to shop now and pay later.
As a Paytm user you can view all your Paytm Postpaid orders in the passbook, you can freely pay by the 15th of next month using your Paytm wallet or debit card.
There is just one way for how to increase the Paytm postpaid limit and that is by shopping more on Paytm. As we told you earlier the Paytm postpaid limit is decided on the basis of your shopping history on Paytm. So the more you shop on Paytm the more easy it becomes for you to increase Paytm postpaid limit.
If you are thinking as to how to use Paytm Postpaid balance then you will be happy to know that your Paytm postpaid balance can help you shop for anything and everything on Paytm. Not only this you can also use your Paytm postpaid balance to pay bills for local shops.
Frequently Asked Questions About Paytm Postpaid
The best benefit of using Paytm postpaid is that it allows you to shop now and pay later with the have instant credit available for your Paytm purchases, which you can repay next month. Here are some other benefits that will help you decide as to why one should apply for Paytm postpaid:
The sole discretion to approve and decide limit of Paytm Postpaid rests with ICICI Bank. The limit is decided based on parameters such as transaction history of Paytm user's credit history and ICICI Bank's internal policies. The limit will be in the range of Rs.3,000 to Rs.10,000.
If you have linked your ICICI bank account to Paytm then your credit dues will be debited from your account or else you can pay through Paytm wallet or debit card.
No charges if you pay back by the due date . On late payment, Rs. 50 late payment charges will be applied and you will also need to pay an interest for the period between payment due date and date of payment at 3% per month. You will be charged for this in the next month's statement.
If you fail to pay your credit bill on time you will be debarred from using the Paytm postpaid services.
Paytm Postpaid comes with added security of Paytm Passcode. You must enter Paytm Passcode before completing any purchase using Paytm Postpaid.