Paytm Postpaid

Introduction to Paytm Postpaid

Paytm Postpaid

Paytm launched a new feature for their users called Paytm Postpaid. It is a joint venture between Paytm and ICICI Bank. They currently rolled out this feature to 80-90% of their users. It will be launched to all the users very soon.

What is Paytm Postpaid?

It allows you to buy today and pay for your purchases next month. You can set up your Paytm Postpaid account through the Profile section on the Paytm App and select it as a payment option for your purchases on Paytm.

How does Paytm Postpaid work?

You can use Paytm Postpaid for your shopping on Paytm. You will get a statement for all transactions done using Paytm Postpaid in the month. On 1st date of next month, you will get your Postpaid statement which you need to pay by 7th date of the month.

Applying for Paytm Postpaid

Why should I apply?

  • Pay Later
    With Paytm Postpaid, you have instant credit available for your Paytm purchases, which you can repay next month.
  • Free credit for upto 37 days
    Flexibility to club transactions & make one consolidated payment on the 7th of next month.All this at no extra cost!
  • Faster Shopping Experience
    With Paytm Postpaid, you can complete your transactions much faster than through your Credit Card, Debit Card or Net Banking
  • >99% Payment Success rate
    Since you are not paying for your order through card or net banking, there is no payment gateway involved and the payment success rate goes up drastically!

How do I apply?

You can apply for Paytm Postpaid from the Profile section of Paytm App. You need to confirm a few details as mentioned in the application page and you can enable it within minutes for you.

What details are required for Postpaid Application?

You need to provide us with your name, gender, date of birth, email, current address, Aadhaar no and PAN details.

How do I find out my application status?

Paytm will send a notification on the App to update you on the status of your application.

My application got rejected. What could be the reasons?

An application may be rejected due to mismatch in information provided to us or due to the credit policies set by ICICI Bank. Don’t worry. Over the next few months, we will be expanding the eligible set of users and we will reach out to you again

My Paytm Postpaid account

How much limit will I get for my account?

The sole discretion to approve and decide limit rests with ICICI Bank. The limit is decided based on parameters such as transaction history on Paytm, user’s credit history and ICICI Bank’s internal policies. To start with, the limit will be in the range of Rs 500 to Rs 60,000.

Are there any charges involved?

No charges if you Pay us back by the due date which is 7th of the month. You have to repay as per the statement sent to you via E-mail on the 1st day of the month for all tranasctions completed using Postpaid in the last month. Your Paytm Postpaid passbook will also suggest due amount.

Repayment of Paytm Postpaid spent

When do I need to repay my due amount for Paytm Postpaid?

You will get a statement on 1st of every month which you have to pay by 7th of the month to enjoy cost free experience for Paytm Postpaid. You can pay us back anytime from the ‘Pay Now’ button in the Paytm Postpaid section.

PFB slab wise late payment charges:

Due AmountLate Fee/Month
Upto ₹50₹5
₹51-100₹10
₹101-500₹50
₹501-1000₹100
₹1001-2000₹200
₹2001-5000₹500
Above ₹5000₹600

What happens if someone does not pay their Postpaid bill on time?

Your Paytm Postpaid account will be blocked and all the applicable charges will be levied.

PFB slab wise late payment charges:

Due AmountLate Fee/Month
Upto ₹50₹5
₹51-100₹10
₹101-500₹50
₹501-1000₹100
₹1001-2000₹200
₹2001-5000₹500
Above ₹5000₹600

Note : According to some external sources, it is said that, ICICI Bank will report to CIBIL, and they will block your Aadhaar card and PAN Card so, that you cannot use it to open new bank accounts, simply makes your Aadhaar and Pan card useless for banking purpose. You can read more about CIBIL here.

What is the role of ICICI Bank?

Credit is being offered by ICICI Bank for Paytm customers. Paytm is acting as a facilitator for the service.

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If you still have any question please ask me in comment section below. You ca also refer to the FAQ section of Paytm for more information on it.

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Author: Abhishek Verma

Abhishek Verma is a Blogger and WordPress developer. He is working on WordPress from about 2015. He started ChampHub in 2018 to share his knowledge about WordPress and Blogging with the whole world. Before starting InnovativeBeast, he was writing for few other online portals like ChampHub, StayMeOnline etc

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