Tag: CEO – Paytm Lending

Business, News

Paytm launches Postpaid Mini, expands its Buy Now Pay Later service

Jul 5, 2021 by Rekha Nair 0 Comments #Bhavesh Gupta, #CEO - Paytm Lending

Hyderabad: India’s leading digital financial services platform Paytm today announced the launch of Postpaid Mini, an extension of its Buy Now, Pay Later service, driving affordability amongst those new to credit. These small ticket instant loans will give flexibility to users and also help manage their household expenses to maintain liquidity during the ongoing pandemic. This service has been launched in partnership with Aditya Birla Finance Ltd.

With the launch of Postpaid Mini, the company will offer access to loans ranging from Rs 250 to Rs 1000, in addition to Paytm Postpaid’s instant credit of upto Rs 60,000. This will help users pay for their monthly expenses, including mobile & DTH recharges, gas cylinder booking, electricity & water bills, shop on Paytm Mall and more. With this service, Paytm Postpaid is offering a period of up to 30-days for repayment of loans at 0% interest. There are no annual fees or activation charges, only a minimal convenience fee.

Through Paytm Postpaid, users can pay at online and offline merchant stores across the country and not have to worry about upsetting their monthly budgets. Paytm Postpaid is currently accepted at thousands of petrol pumps, neighbourhood kirana stores or pharmacy shops, popular chain outlets (such Reliance Fresh, Apollo Pharmacy, etc.), internet apps (such as Myntra, Firstcry, Uber, Dominos, Ajio, Pharmeasy, etc.) and popular retail destinations (such as Shoppers Stop, Croma, etc.) among others. Paytm Postpaid is available in over 550 cities in India.

Bhavesh Gupta, CEO – Paytm Lending said, “We want to help new-to-credit citizens start their credit journey and develop a financial discipline. Through Postpaid we are also making sincere attempts to help drive consumption in the economy. Our new Postpaid Mini service helps users manage their liquidity by clearing their bills or payments on time.”

Business World

Paytm launches Instant Personal Loans, capitalizes on technology to offer credit to 1 million customers

Jan 7, 2021 by Rekha Nair 0 Comments #Bhavesh Gupta, #CEO - Paytm Lending

Hyderabad: India’s leading digital financial services platform Paytm has introduced Instant Personal Loans on its platform to facilitate access to credit services to the masses. The service can be availed 24X7, round the year even on public holidays and weekends. Paytm is the technology & distribution partner for NBFCs and would help them expand the reach and adoption of loan services to salaried individuals, small business owners and professionals. The loans would be processed and disbursed by NBFCs & banks. This move will bring ‘new to credit’ customers into the ambit of the formal financial market, and will also empower individuals from small cities and towns who do not have access to traditional banking institutions.

Paytm has digitized the entire process for loan application and disbursal with no physical documentation requirement. This unique service proposition is built on Paytm’s cutting-edge tech platform which enables banks and NBFCs to process loans end to end in less than 2 minutes. It comes with a flexible repayment tenure of 18-36 months and EMI is determined accordingly. The eligible customers can avail of the service through the ‘Personal Loan’ tab under the Financial Services section and can manage their loan account directly from their Paytm app. The company has partnered with various NBFCs and banks to facilitate this service. During the beta phase, Paytm disbursed personal loans to over 400 selected customers. The company is now aiming for over 1 million users by fiscal year-end to avail the personal loan services from the platform.

Bhavesh Gupta, CEO – Paytm Lending said, “We aim to make Instant Personal Loans accessible to the self-employed, new to credit individuals and young professionals who need short to medium term personal loans to manage urgent expenses so that lack of resources does not come in their way to fulfil dreams and ambitions. Our aim is to become a growth enabler for India’s aspiring youth and young professionals to help them become self-reliant. We will continue to innovate and digitise as many services that help in bringing ‘new to credit’ users into the formal economy.”

Recently, the company has expanded its Paytm Postpaid service to a large set of use-cases such as payments at neighbourhood Kirana and at popular retail destinations. Additionally, it has also been extended to various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Domino’s, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer’s among others.